Ahramonline reports that Egyptian gold producer Centamin (TSX:CEE,LSE:CEY) has taken over Ampella (ASX:AMX), an Australian gold company with assets in West Africa including Burkina Faso.

As quoted in the market news:

The value of the transaction is $40.9 million and $0.16 a share. Centamin offered Ampella shareholders one Centamin share for every five Ampella shares. The offer was described as “the most value-enhancing alternative available to Ampella shareholders at the current time” by Ampella’s board of directors.

Read the full article in Ahramonline