Allied Gold drops as sale to Zijin is terminated
29/07/2026 12:55
BUZZ-Allied Gold drops as sale to Zijin is terminated ** U.S.-listed shares of Allied Gold AAUC.N AAUC.TO down more than 13% at $18 premarket
** Co says its planned C$5.5 billion ($3.90 billion) sale to China's Zijin Gold 2259.HK had been terminated after the companies concluded they were unlikely to satisfy closing conditions by the agreed deadline
** "The termination of the Arrangement Agreement relates to broader external factors applicable to cross-border transactions of this scale," company adds
** Co adds, Zijin has agreed to invest $295 million in the company for a stake of 9.2%
** As of last close, AAUC shares were down 8.92% YTD
(Reporting by Sumit Saha in Bengaluru)
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