Sep. 15 at 2:18 AM
$AGI Alamos Gold Announces the Sale of its Turkish Development Projects for Total Cash Consideration of
$470 million
Alamos Gold announced a definitive agreement to sell its wholly owned Turkish subsidiary, Doğu Biga Madencilik, which holds the Kirazlı, Ağı Dağı, and Çamyurt projects, to Tümad Madencilik for
$470 million in cash. The deal includes
$160M payable at closing,
$160M on the first anniversary, and
$150M on the second anniversary, with both later payments secured by international bank guarantees. Alamos said the structure ensures full proceeds of
$470M within two years of closing.
