Pan American Silver Agreed To Sell Its 100% Interest In La Arena S.a. To Jinteng (Singapore) Mining Pte. Ltd. For $245M Cash Upfront And A $50M Contingent Payment
Portfolio Pulse from Benzinga Newsdesk
Pan American Silver (PAAS) has agreed to sell its entire interest in La Arena S.A. to Jinteng (Singapore) Mining Pte. Ltd. for a total consideration of $295M, comprising $245M in cash upfront and a $50M contingent payment.
May 01, 2024 | 9:17 am
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Pan American Silver's sale of La Arena S.A. to Jinteng Mining for $295M could provide a significant cash influx, potentially impacting its financial flexibility and future investment capacity.
The sale of La Arena S.A. represents a significant transaction for Pan American Silver, providing a substantial cash influx. This could positively impact PAAS's stock price in the short term as it increases financial flexibility and may be viewed positively by investors for the potential reinvestment into high-value projects or debt reduction. The contingent payment adds an element of future financial upside.
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