06:13:31 EDT Sat 20 Apr 2024
Enter Symbol
or Name
USA
CA



Barrick Gold Corp
Symbol ABX
Shares Issued 1,164,669,708
Close 2015-06-03 C$ 14.94
Market Cap C$ 17,400,165,438
Recent Sedar Documents

Globe says TD helping Barrick sell chunk of Zaldivar

2015-06-04 08:45 ET - In the News

Also In the News (C-TD) Toronto-Dominion Bank

The Globe and Mail reports in its Thursday edition Barrick Gold has hired TD Bank to help run the partial sale of its copper mine Zaldivar. The Globe's Rachelle Younglai writes Michael Faralla, the head of TD's global mining unit, will work with Michael Klein, a former Citigroup executive who advised Barrick on the failed merger with Newmont. TD is not known for having a significant presence on mining deals. Barrick has traditionally relied on Royal Bank of Canada for its investment-banking services. One source said RBC is representing one of the potential Zaldivar buyers, which precluded it from working for Barrick. Still, RBC played a secondary role to Mr. Klein during Barrick's merger talks with Newmont. The appointment of TD comes after it plucked Barrick's former mergers-and-acquisitions executive Rick McCreary. Barrick is in the midst of reducing its $13-billion (U.S.) debt load. It will use $850-million from recently announced mine sales to help reduce debt by at least $3-billion this year. Although Barrick has said it only wants to sell a portion of Zaldivar, potential buyers are said to be angling for the entire mine. Barrick closed at $14.94, up six cents in Toronto.

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