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Centerra Gold signs friendly deal to buy AuRico Metals for 310 million

TORONTO — Centerra Gold Inc. has signed a friendly deal to buy AuRico Metals Inc. for $310 million in cash.Under the deal, Centerra has agreed to pay $1.80 per share for the company which is developing the Kemess property in B.C.Shares in AuRico closed at $1.30 on the Toronto Stock Exchange on Monday.Centerra says the deal expands its existing development pipeline to include another low-cost de-risked brownfield development asset in the Kemess property.The deal requires approval by two-thirds of the votes cast at a special meeting of AuRico Metals shareholders as well as court and regulatory approvals.Directors and senior officers of AuRico Metals, in addition to Alamos Gold Inc., that collectively hold about a 11.4 per cent stake in AuRico have agreed to vote in favour of the proposed deal. read more