UPDATE 1-Goldcorp to pay 21 pct of Andean deal in cash
* Goldcorp to pay C$765 mln in cash
* Says to pay about 61 mln in stocks
Dec 17 (Reuters) - Goldcorp Inc (G.TO) said about 21 percent of its C$3.6 billion acquisition of Argentina-focused gold miner Andean Resources Ltd AND.AX AND.TO will be paid in cash and the rest in stock.
Under the terms, Andean shareholders had the option to receive C$6.50 in cash or 0.14 Goldcorp common shares for each Andean share. The cash portion of the deal was subject to a maximum of C$1 billion. [ID:nSGE6820BF]
The world's second largest gold producer said it will pay Andean shareholders C$765 million in cash and about 61 million Goldcorp shares.
The cash portion is being funded from existing Goldcorp cash balances, it said in a statement.
Goldcorp's shares were trading down nearly 1 percent at C$45.01 on Friday on the Toronto Stock Exchange. ($1=1.005 Canadian Dollar) (Reporting by Aftab Ahmed in Bangalore; Editing by S. John Tilak) (email@example.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: firstname.lastname@example.org))
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