Agnico Eagle Mines Limited announced the sale of its entire 11.3% stake in Orla Mining Ltd., comprising 38,002,589 common shares. This significant divestiture represents a major change in Orla's shareholder structure.
The shares were sold at a price of C$14.75 per common share, resulting in total consideration of C$560,538,188. The sale was conducted through the facilities of the Toronto Stock Exchange to buyers in Canada, the United States, and elsewhere.
Agnico Eagle's exit from its investment in Orla Mining indicates a strategic redeployment of capital. This move could lead to increased trading liquidity for Orla's shares, but also removes a significant institutional holder.
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