China's Zijin to buy Canada's Allied Gold for CAD5.5bn in cash

26th Jan 2026 13:47

(Sharecast News) - Canada's Allied Gold said on Monday that it has agreed to be bought by China's Zijin Gold for about CAD5.5bn in cash.

Under the terms of the agreement, Zijin will pay CAD44 per share, which is a premium of approximately 27% to Allied Gold's 30-day volume-weighted average price on the TSX as of the market close on Friday.

Allied Gold chairman and chief executive Peter Marrone said: "The announced transaction provides a highly attractive all-cash offer for Allied Gold at what represents an all-time high for the company's share price, crystallising significant and certain value for its shareholders.

"The transaction is also a testament to the exceptional efforts of the entire Allied Gold team to identify, finance, optimise, grow, and develop what we have always known is a world-class portfolio of gold assets across Africa, and it is also an endorsement of these high-quality assets and the mining-friendly jurisdictions where they are located."

He noted that Zijin is among the world's largest mining companies "with a proven track record of successful international transactions, project development and operational excellence".

The deal is expected to close by late April.

Zijin Gold is listed on the Hong Kong Stock Exchange, and as of last Friday, had a market capitalisation of about $70bn.