Pan American Silver Corp., a Canadian precious metals mining company, has acquired peer Yamana Gold Inc.
Moreover, the move follows the sale of Yamana’s Canadian assets, including certain subsidiaries and partnerships with interests in the Malartic mine, to Agnico Eagle Mines Ltd.
According to the arrangement, in entirety, Yamana shareholders received about $1 billion in cash, 36.1 million Agnico Eagle shares and 153.8 million Pan American shares.
Additionally, the acquisition is transformative for Pan American, diversifying the scale of its operations in Latin America, where it has been operating for almost three decades.