National

Goldcorp Selling Stake In Tahoe Resources For Nearly $1 Billion

Darpan News Desk The Canadian Press, 16 Jun, 2015 11:34 AM

VANCOUVER — Goldcorp Inc. (TSX:G) is selling its one-quarter interest in Tahoe Resources Inc. (TSX:THO) for just under $1 billion.

A syndicate of underwriters will pay $17.20 for each of Goldcorp's 58 million Tahoe shares, about $998.5 million before fees.

That's a seven per cent discount to Tahoe's stock price of $18.49 at the close of trading in Toronto on Monday, prior to Goldcorp's announcement.

The transaction is expected to close by June 30.

Vancouver-based Goldcorp said the sale is part of its strategy of divesting non-core assets. It operates four mines in Canada, three in Mexico, and four in Central and South America.

Based in Reno, Nev., Tahoe's main properties are the Escobal silver mine in Guatemala, which it acquired in 2010 from Goldcorp in return for shares and cash, and the Arena gold mine in northern Peru.

Prev Next

MORE National ARTICLES

Judge Orders TV's Ex-Housewife Of Vancouver, Jody Claman, To Pay Special Court Costs

The decision by Justice Miriam Gropper follows several 2014 family law rulings against Jody Claman, who appeared in the now-defunct "Real Housewives of Vancouver" series.

Judge Orders TV's Ex-Housewife Of Vancouver, Jody Claman, To Pay Special Court Costs

Crown Wants Accused Wife Murderer's Case At Trial If Kids To Testify At Inquiry

KAMLOOPS, B.C. — The Crown wants to take the case of an accused wife murderer directly to trial unless the couple’s children will not be called to testify at a preliminary inquiry.

Crown Wants Accused Wife Murderer's Case At Trial If Kids To Testify At Inquiry

Big Box Shopping Centres Will Need To Reinvent Themselves, Planners Say

TORONTO — The recent closures of Future Shop and Target stores highlight a conundrum that's got urban planners and real estate experts talking.

Big Box Shopping Centres Will Need To Reinvent Themselves, Planners Say

Some Major Events In The History Of Future Shop

Future Shop closed its Canadian stores on Saturday. Here is a list of major events in the history of the retail chain.

Some Major Events In The History Of Future Shop

Study Uncovers Why Students At Canadian Private High Schools Enjoy Academic Edge

TORONTO — Students attending private high schools do better academically than their public schools counterparts because of socio-economic factors and peers who tend to have university-educated parents, according to a Statistics Canada study released Tuesday.

Study Uncovers Why Students At Canadian Private High Schools Enjoy Academic Edge

Conservatives Studying Anti-terrorism Bill Reject Opposition Changes

OTTAWA — The Conservatives have used their majority on the House of Commons public safety committee to vote down the first wave of opposition amendments to the federal anti-terrorism bill.