Bloomberg News

European Goldfields Halted After Report of Eldorado Bid Approach

December 06, 2011

Dec. 6 (Bloomberg) -- European Goldfields Ltd. shares were halted on the Toronto Stock Exchange after a report the developer of mines in Greece has been approached about a takeover by Eldorado Gold Corp.

The halt was reported in a statement today from the Investment Industry Regulatory Organization of Canada. Eldorado’s proposal to European Goldfields threatens to scuttle a move by Qatar Holding LLC to buy a stake in European Goldfields, Sky News’s Mark Kleinman reported on his blog, without disclosing the source of the information.

European Goldfields, based in Whitehorse, Yukon Territory, rose 15 percent to C$11.46 before the halt in Toronto. Eldorado, which is based in Vancouver, fell 1.6 percent to C$17.13 at 10:32 a.m. in Toronto.

Steve Sharpe, European Goldfields’s senior vice-president of corporate development, and Nancy Woo, a spokeswoman for Eldorado, didn’t immediately return calls from Bloomberg News for comment.

--Editors: Simon Casey, Jessica Resnick-Ault

To contact the reporter on this story: Christopher Donville in Vancouver at cjdonville@bloomberg.net

To contact the editor responsible for this story: Simon Casey at scasey4@bloomberg.net


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