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First Majestic to buy distressed Primero, reforms San Dimas silver stream accord

By:  
Creamer Media Deputy Editor: North America
 
PRECIOUS METALS M&A
The dismantling of former precious metals producer Primero Mining is nearly complete with the company announcing on Friday that Mexico-focused miner First Majestic Silver will buy the distressed company for $320-million. Under terms of an arrangement agreement between the two companies, all of Primero’s issued and outstanding common shares will be exchanged for First Majestic common shares at a ratio of 0.03325 of a First Majestic common share for each Primero common share.
 
 
 
 
 

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