Developments down under

Article Abstract:

The flotation of Australian gold mining firm Goldfields and its hostile takeover of Pancontinental Mining was an innovative deal in many respects. Goldfields was created when Renison Goldfields Consolidated floated its gold mining assets: the hostile bid for Pancontinental was launched at the same time as the flotation was announced. This produced the world's first simultaneous IPO and hostile takeover bid; the first 'conditional' IPO which depended on the takeover being successful; and the first Australian hostile takeover in which paper formed part of the bid consideration.

Mining industry, Securities, Goldfields, Renison Goldfields Consolidated Ltd., Pancontinental Mining Ltd.

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Worth its weight in gold

Article Abstract:

Ghana's Ashanti Goldfields became a public company in 1994, with a capitalization of $1.9 billion, and is Africa's biggest listed company. The gold producer's main asset is its Obuasi mine where gold reserves total more than 20 million oz and output in 1995 reached 900,000 oz. The company has embarked on a diversification program, which has included the acquisition, for $290 million, of Australia's Golden Shamrock Mines in 1996, aided by the HSBC Investment Bank.

Gold Mines, Gold Ore Mining, Gold ores, Gold mining, Ashanti Goldfields Corporation (Ghana) Ltd., Golden Shamrock Mines Ltd.

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Barriers are coming down in the North-West

Article Abstract:

An analysis is given of the debt sector in the north-west of England. There have been more deals than in the previous year and most of them are for between 7.5 million pounds sterling and 25 million pounds.

Banking industry, Analysis, Demographic aspects, Debt financing (Corporations), Debt financing

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