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Gold Fields CEO Chris Griffith says the company is diversifying its portfolios.
Gold Fields says it will buy Toronto-based Yamana after the board approves.
The purchase will see Gold Fields shareholders owning about 61% of the combined group while Yamana shareholders will own around 39%.
Speaking to Bongani Bingwa, Gold Fields CEO Chris Griffith says it is expected for shares to take a dip when there is a company takeover.
"The big deals get a lot of attention, this is $6.7 billion, and this is a huge deal. How we constructed the deal is that is will be a share for share deal. We spent seven months working on this."
Chris Griffith, CEO - Gold Fields
"Gold Fields has been diversifying its portfolio over many years. We have been looking to bulk up in South America."
Chris Griffith, CEO - Gold Fields
Click here to listen to the full interview.
