Barrick Completes Partial Divestment of African Barrick Gold plc Holding

Barrick Completes Partial Divestment of African Barrick Gold plc Holding 
NEWS RELEASE TRANSMITTED BY Marketwired 
FOR: Barrick Gold Corporation 
NYSE SYMBOL:  ABX
TSX SYMBOL:  ABX 
MARCH 11, 2014 
Barrick Completes Partial Divestment of African Barrick Gold plc Holding 
Continued Progress on Portfolio Optimization 
TORONTO, ONTARIO--(Marketwired - March 11, 2014) -  
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR SOUTH
AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR
DISTRIBUTION WOULD BE UNLAWFUL. 
Barrick Gold Corporation (NYSE:ABX)(TSX:ABX) ("Barrick" or the
"Seller") today announced that, further to its release of March 10,
2014, it has completed the divestment of 41.0 million ordinary shares in
African Barrick Gold plc ("ABG") (the "Placing Shares"),
representing in aggregate approximately 10.0 percent of the issued ordinary
share capital of ABG, at a price of 275 pence per ordinary share (the
"Placing"), raising gross proceeds of approximately GBP 113 million
(US$188 million).  
"ABG has made excellent progress with its Operational Review to increase
production and reduce operating and capital costs, and the results to date have
been favorably received by the market," said Jamie Sokalsky,
Barrick's President and CEO. "Barrick continues to support ABG
management as they advance the operational turnaround and make other efforts to
improve the business. After this transaction, Barrick will still be a
controlling shareholder, but this transaction allows us to realize some
liquidity from our holding in ABG in keeping with our disciplined capital
allocation framework and our ongoing program to optimize and lower the average
cost of our portfolio." 
Barrick continues to hold approximately 262 million ordinary shares of ABG,
representing approximately 64 percent of the issued ordinary share capital of
ABG.  
Barrick has undertaken not to dispose of any further ABG ordinary shares
without the consent of the Joint Bookrunners for a period of 120 days following
completion of the Placing, except that consent shall not be required (i) in the
event of an offer for the entire issued share capital of ABG in accordance with
the City Code on Takeovers and Mergers or (ii) with respect to a single sale of
10-20 percent of Barrick's remaining shareholding in ABG to a single
corporate or strategic purchaser as part of a single transaction, provided that
such purchaser agrees to be bound by an equivalent restriction for the
remainder of the lock-up period. 
UBS Limited, J.P. Morgan Securities plc (which conducts its UK investment
banking business under the name J.P. Morgan Cazenove) and RBC Europe Limited
acted as Joint Bookrunners in relation to the Placing (the "Joint
Bookrunners"). 
Enquiries:  
UBS Limited, Ted Larkin, Simon Lyons, Tel: +44 (0)20 7567 8000 
J.P. Morgan Cazenove, Greg Chamberlain, Ben Davies, Tel: +44 (0)20 7742 4000 
RBC Europe Limited, Jonathan Stephens, Stephen Foss, Tel: +44 (0)20 7653 4000 
Important Notice:  
This announcement is for information purposes only and shall not constitute or
form part of an offer to buy, sell, issue, acquire or subscribe for, or the
solicitation of an offer to buy, sell, issue, acquire or subscribe for, any
securities, nor shall there be any sale of securities in any jurisdiction in
which such offer, solicitation or sale would be unlawful.  
In particular, the securities referred to herein have not been and will not be
registered under the United States Securities Act of 1933, as amended (the
"Securities Act") and may not be offered, sold or transferred,
directly or indirectly, within the United States except pursuant to an
exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act and the securities laws of any state or
other jurisdiction of the United States. No public offering of the securities
referred to herein is being made in the United Kingdom, the United States,
Australia, Canada, Japan, South Africa or any other jurisdiction. 
The distribution of this announcement and the Placing of the Placing Shares as
set out in this announcement in certain jurisdictions may be restricted by law.
No action has been taken that would permit an offering of such shares or
possession or distribution of this announcement or any other offering or
publicity material relating to such shares in any jurisdiction where action for
that purpose is required. Persons into whose possession this announcement comes
are required to inform themselves about, and to observe, such restrictions. Any
failure to comply with these restrictions may constitute a violation of the
securities laws of any such jurisdiction.  
UBS Limited ("UBS"), J.P. Morgan Securities plc (which conducts its
UK investment banking activities as J.P. Morgan Cazenove) ("JPMC")
and RBC Europe Limited ("RBC"), each of which is authorised by the
Prudential Regulation Authority and regulated in the United Kingdom by the
Financial Conduct Authority and the Prudential Regulation Authority, are acting
for the Seller in connection with the Placing and no-one else and they will not
be responsible to anyone other than the Seller for providing advice in relation
to the Placing or any other matter referred to in this announcement.  
This announcement has been issued by and is the sole responsibility of the
Seller. No representation or warranty, express or implied, is or will be made
as to, or in relation to, and no responsibility or liability is or will be
accepted by UBS, JPMC or RBC or by any of their respective affiliates or agents
as to, or in relation to, the accuracy or completeness of this announcement or
any other written or oral information made available to or publicly available
to any interested party or its advisers, and any liability therefore is
expressly disclaimed. 
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION  
Certain information contained or incorporated by reference in this press
release, including any information as to our strategy, projects, plans or
future financial or operating performance, constitutes "forward-looking
statements". All statements, other than statements of historical fact, are
forward-looking statements. The words "expect", "intend",
"continue", "may", "will" and similar expressions
identify forward-looking statements. Forward-looking statements are necessarily
based upon a number of estimates and assumptions that, while considered
reasonable by Barrick, are inherently subject to significant business, economic
and competitive uncertainties and contingencies. Known and unknown factors
could cause actual results to differ materially from those projected in the
forward-looking statements. Such factors include, but are not limited to:
fluctuations in the spot and forward price of gold and copper or certain other
commodities; changes in national and local government legislation, taxation,
controls, regulations, expropriation or nationalization of property and
political or economic developments in jurisdictions in which Barrick does or
may carry on business in the future; diminishing quantities or grades of
reserves; increased costs, delays, suspensions and technical challenges
associated with the construction of capital projects; the impact of inflation;
fluctuations in the currency markets; operating or technical difficulties in
connection with mining or development activities; the speculative nature of
mineral exploration and development, including the risks of obtaining necessary
licenses and permits; contests over title to properties, particularly title to
undeveloped properties; risk of loss due to acts of war, terrorism, sabotage
and civil disturbances; litigation; business opportunities that may be
presented to, or pursued by, Barrick; our ability to successfully integrate
acquisitions or complete divestitures; employee relations; availability and
increased costs associated with mining inputs and labor; and, the organization
of our African gold operations and properties under a separate listed company. 
In addition, there are risks and hazards associated with the business of
mineral exploration, development and mining, including environmental hazards,
industrial accidents, unusual or unexpected formations, pressures, cave-ins,
flooding and gold bullion, copper cathode or gold/copper concentrate losses
(and the risk of inadequate insurance, or inability to obtain insurance, to
cover these risks). Many of these uncertainties and contingencies can affect
our actual results and could cause actual results to differ materially from
those expressed or implied in any forward-looking statements made by, or on
behalf of, us. Readers are cautioned that forward-looking statements are not
guarantees of future performance. All of the forward-looking statements made in
this press release are qualified by these cautionary statements. Specific
reference is made to the most recent Form 40-F/Annual Information Form on file
with the SEC and Canadian provincial securities regulatory authorities for a
discussion of some of the factors underlying forward-looking statements. 
Barrick disclaims any intention or obligation to update or revise any
forward-looking statements whether as a result of new information, future
events or otherwise, except as required by applicable law. 
-30-
FOR FURTHER INFORMATION PLEASE CONTACT: 
INVESTOR CONTACT: Amy Schwalm
Vice President, Investor Relations
(416) 307-7422
aschwalm@barrick.com
or
MEDIA CONTACT: Andy Lloyd
Vice President, Communications
(416) 307-7414
alloyd@barrick.com 
INDUSTRY:  Manufacturing and Production - Mining and Metals 
SUBJECT:  RCN 
-0-
-0- Mar/11/2014 08:28 GMT
 
 
Press spacebar to pause and continue. Press esc to stop.