Eldorado Gold Corp. Buys Out European Goldfields Ltd.

In a cash-and-shares deal, Eldorado Gold acquired European Goldfields Ltd. for $2.4 billion, creating a gold producer with a market value of $11 billion. The deal, which was completed on February 24, 2012, gave Eldorado the rights to the company’s Stratoni mine in Greece and two additional projects in Greece and Romania.

By 2015, Eldorado will have an annual gold production exceeding 1.5 million troy ounces.