Canaccord Genuity Acts as Financial Advisor to Yamana Gold on its US$4.8 Billion Sale to Agnico Eagle and Pan American Silver.
Canaccord Genuity is pleased to announce that on March 31, 2023, its client, Yamana Gold Inc. (TSX: YRI, NYSE: AUY, LSE: AUY) (“Yamana” or the “Company”) successfully completed its sale to Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) (“Agnico Eagle”) and Pan American Silver Corp. (TSX: PAAS, NASDAQ: PAAS) (“Pan American”).
Pan American completed its previously announced acquisition of all of the issued and outstanding common shares of Yamana (“Yamana Shares”), following the sale by Yamana of its Canadian assets, including certain subsidiaries and partnerships which hold Yamana’s interests in the Canadian Malartic mine, to Agnico Eagle, by way of a plan of arrangement (the “Arrangement”) under the Canada Business Corporations Act.
Pursuant to the Arrangement, Yamana shareholders received, in respect of each Yamana Share held, US$1.0406 in cash paid by Agnico Eagle, 0.0376 of a common share of Agnico Eagle (each whole share, an “Agnico Eagle Share”) and 0.1598 of a common share of Pan American (each whole share, a “Pan American Share”). In aggregate, Yamana shareholders received approximately US$1.0 billion in cash, 36.2 million Agnico Eagle Shares and 153.8 million Pan American Shares pursuant to the Arrangement.
Yamana Gold Inc. was a Canadian-based precious metals producer with significant gold and silver production, development stage properties, exploration properties, and land positions throughout the Americas, including Canada, Brazil, Chile and Argentina.
The Canaccord Genuity deal team included Ted Hirst, Gunnar Eggertson, Derrick Pattenden and Michael Hirst from Vancouver Investment Banking.