As part of the deal, Yamana Gold would sell its Canadian assets to Agnico Eagle Mines Ltd. (TSX:NYSE:AEM), including its 50% share of Canadian Malartic mine, which Yamana co-owns with Agnico.
Canadian Malartic, near Val-d’Or, Quebec, is Canada’s largest operating gold mine. It was developed by Osisko Mining, and acquired by Yamana and Agnico in 2014.
Yamana Gold has five operating mines – including Canadian Malartic – that produced 1 million ounces of gold in 2021. Through the acquisition, Pan American will acquire four operating gold mines and a number of development projects in Latin America.
Yamana Gold shareholders will receive $1 billion in cash, and 153.5 million common shares of Pan American and 36.1 million common shares of Agnico. Shareholders would receive receive $1.0406 — 0.0376 of an Agnico Share and 0.1598 of a Pan American Share — for each common share held, according to a press release in…
