TransactionsGoldcorp Completes Sale of Escobal Silver Deposit for US$505 MillionPublished: 08/10/2010 By Jamie Firsten, Jason R. Sernoskie, Paul M. Stein, France M. Tenaille, Jennifer Traub, Ann Watterworth On June 8, 2010, Goldcorp Inc. completed its sale of the Escobal silver deposit in Guatemala to Tahoe Resources Inc. (“Tahoe”). Pursuant to the terms of the transaction, Goldcorp sold the Escobal silver deposit for US$505 million which was satisfied by the payment to Goldcorp of US$253 million in cash and an aggregate of 43,686,667 common shares of Tahoe, representing 40% of Tahoe’s issued and outstanding common shares on a fully-diluted basis. Genuity Capital Markets acted as Goldcorp’s financial advisor Goldcorp was represented in-house by David Deisley, Vice President, General Counsel and Benjamin Lee, Corporate Counsel, and by a team from Cassels Brock & Blackwell LLP that included Paul Stein and Jennifer Traub (Securities and Mining), Ann Watterworth, France Tenaille, Jason Sernoskie and Jamie Firsten (Corporate Commercial and Mining). |