Gold Road Resources is set to be acquired by Gold Fields, its joint venture partner in the Gruyere gold mine in Western Australia. The scheme of arrangement will see Gold Fields buying 100% of Gold Road shares, with a special dividend of A$0.43 per share to current shareholders.

The Supreme Court of WA has approved the acquisition scheme, leading to the suspension of Gold Road shares from trading. The deal includes a fixed cash component of A$2.52 per share and a variable cash consideration of A$0.98 per share, with the transfer of shares to Gold Fields scheduled for 14 October.

The acquisition of Gold Road Resources by Gold Fields was first proposed in May and approved by Australia’s Foreign Investment Review Board. The deal, valued at A$3.7bn, will give Gold Fields full ownership of the Gruyere gold mine, which is expected to produce 325,000–355,000oz of gold in 2025.

Read more at Yahoo Finance: Gold Road Resources set to be acquired by Gold Fields