Vancouver-based Eldorado Gold Corp., a global low-cost gold producer, has mines in Greece, Turkey, Romania, Serbia, Brazil – and until recently China. Eldorado first entered China in 2005; a decade later, however, it wanted out.
In April, 2016, Eldorado announced the sale of an 82-per-cent interest in its Jinfeng mine to China National Gold Group for $300-million (U.S.) in cash.
The following month, Yintai Resources Co. Ltd. agreed to buy Eldorado's stakes in White Mountain, Tanjianshan and Eastern Dragon for $600-million. Blake, Cassels & Graydon LLP was brought in to help Yintai seal the deal.
Michael Laffin, chair of Blakes Asia region initiative, and Zaichi Hu, a Blakes Vancouver partner with extensive experience in China, tell the tale of the firm's role in the acquisition.
Lexpert contributor Anthony Davis reports at www.lexpert.ca.
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