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

National Post Appeals $50,000 Libel Suit Launched By B.C. Environmentalist

VANCOUVER — The National Post is appealing a defamation ruling that ordered it to pay $50,000 to a British Columbia environmentalist-turned-politician.

National Post Appeals $50,000 Libel Suit Launched By B.C. Environmentalist

RCMP Officer Says Halifax Chemicals Investigation Began After Wife Came Forward

HALIFAX — The investigation of a Halifax man accused of possessing dangerous chemicals and threatening police began when his wife told the RCMP she felt her family's safety was at risk because of the materials he was storing, a Mountie testified Friday.

RCMP Officer Says Halifax Chemicals Investigation Began After Wife Came Forward

Pig's Head Found Outside Office Of Federation That Represents Montreal Cops

MONTREAL — A pig's head found outside the office of the federation that represents Montreal police officers could be linked to a weekend protest against perceived police brutality, authorities said Friday.

Pig's Head Found Outside Office Of Federation That Represents Montreal Cops

Alpine Canada Says It Contacted The RCMP About Ski Coach Bertrand Charest

MONTREAL — Alpine Canada says it contacted the RCMP in 1998 about sexual-abuse complaints against a ski coach who now faces 47 criminal charges.

Alpine Canada Says It Contacted The RCMP About Ski Coach Bertrand Charest

Kings blank Canucks, move into playoff spot

VANCOUVER — The Los Angeles Kings served noticed they have the Vancouver Canucks in their sights. Jonathan Quick made 19 saves for his fifth shutout of the season, and Justin Williams and Anze Kopitar each had a goal and an assist Thursday as the Kings defeated the Canucks 4-0.

Kings blank Canucks, move into playoff spot

Four Surrey, B.C., shootings within two days likely targeted: RCMP

SURREY, B.C. — Mounties in Surrey, B.C., say three men have been wounded in at least four shootings within two days. Officers believe the victims — all men in their 20s who are known to police — were targeted, and say at least three of the shootings appear to be linked.