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Anglogold Ashanti Ltd enters Into agreement to sell Navachab Mine

Monday, 10 Feb 2014 07:55am EST 

Anglogold Ashanti Ltd:Signs a binding agreement to sell its entire interest in AngloGold Ashanti Namibia (Proprietary) Limited (AGAN), a wholly owned subsidiary which owns the Navachab Gold Mine (Navachab), to a wholly-owned subsidiary of QKR Corporation Limited.Says the agreement provides for an upfront consideration based on an enterprise value of $110 mln which will be adjusted to take into account AGAN's net debt and working capital position on the closing date of the transaction.Says the upfront consideration is payable in cash on the closing date.Says AngloGold Ashanti will continue to operate Navachab until the closing of the transaction. 

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