Endeavour completes Semafo merger creating West Africa’s largest gold producer

Endeavour Mining has announced the successful completion of the acquisition of Toronto-listed gold producer Semafo, creating West Africa’s largest gold producer.

Endeavour shareholders — the largest of which is Naguib Sawiris’ La Mancha with a 31percent stake — now own around 70 percent of the combined company and Semafo shareholders the remainder.

SEMAFO is now a wholly-owned subsidiary of Endeavour Mining, and the shares of SEMAFO will be delisted from the Nasdaq Stockholm and from the Toronto Stock Exchange.

Endeavour Mining is now one of the top 15 gold producers globally and the largest in West Africa with six mines, supported by a robust pipeline of development projects and a significantly enhanced exploration portfolio focused on the highly-prospective Birimian Greenstone Belt, in West Africa.

The acquisition comes six months after Endeavour ended its bid to takeover Centamin.