Al Barbarino
February 23, 2026
Canada's Allied Gold Agrees To $4B Sale To China's Zijin Gold
2 min
AI-made summary
- • Allied Gold has agreed to be acquired by Zijin Gold International in an all-cash deal valued at approximately CA$5.5 billion ($4 billion). • Zijin Gold will pay CA$44 per share, representing a 27% premium over Allied Gold's 30-day average share price. • The transaction requires approval from at least two-thirds of Allied Gold shareholders, as well as court and regulatory approvals in Canada and other jurisdictions. • The companies expect to complete the transaction in late April, after which Allied Gold shares will be delisted from the Toronto and New York Stock Exchanges. • Allied Gold operates gold mines in Côte d'Ivoire, Mali, and Ethiopia, and Zijin Gold plans to fund the purchase with existing cash.
Canadian gold producer Allied Gold said Monday it has agreed to be bought by Zijin Gold International in an all-cash deal valued at about CA$5.5 billion ($4 billion).
Cassels Brock & Blackwell LLP is Canadian counsel and Paul Weiss Rifkind Wharton & Garrison LLP is U.S. counsel to Allied Gold, while Fasken Martineau DuMoulin LLP is advising Zijin Gold.
Zijin Gold will pay CA$44 per share for all Allied Gold shares, the companies said in an announcement. They said the offer is about 27% higher than Allied Gold's average share price over the past 30 trading days, based on the Toronto market close on Friday. The stock was up about 4% Monday afternoon on the New York Stock Exchange.
Zijin Gold said it expects to fund the purchase with existing cash.
"The announced transaction provides a highly attractive all-cash offer for Allied Gold at what represents an all-time high for the company's share price, crystallizing significant and certain value for its shareholders," Allied Gold Chair and CEO Peter Marrone said in the announcement.
Canada's Allied Gold operates gold mines and development projects in Côte d'Ivoire, Mali and Ethiopia. The company said it has three producing sites in Africa and additional growth plans.
Zijin Gold said it expects the purchase to add long-life assets and expansion opportunities, including the Sadiola mine in Mali and the Kurmuk project in Ethiopia.
"Allied Gold has successfully assembled and advanced a portfolio of large-scale, long-life gold assets with compelling expansion potential," Zijin Gold Chair Hongfu Lin said.
The deal requires support from at least two-thirds of votes cast by Allied Gold shareholders, plus court and regulatory approvals in Canada and other jurisdictions, the announcement said.
The companies expect to complete the transaction in late April, subject to the approvals.
Upon closing, Allied Gold shares will be delisted from the Toronto Stock Exchange and the New York Stock Exchange.
The Paul Weiss team advising Allied Gold is led by partners Adam M. Givertz and Christian G. Kurtz.
Deal team information for the other firms was not immediately available.
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