Ashanti deal concluded "soon" - Bartels

The government said on Friday it expected a proposed takeover of Ashanti Goldfields by South Africa's AngloGold Ltd to be concluded within the next fortnight.

"I think this whole business should be over and done with in the next two weeks," Kwamena Bartels, Ghana's Minister of Private Sector Development, told Reuters on the sidelines of a business conference.

AngloGold has offered to pay 26 shares for every 100 Ashanti shares in the deal, which if successful, would make the South African firm the world leader in gold production with combined annual output of 7.6 million ounces.

Ashanti Chief Executive Sam Jonah said earlier this week the Ghanaian had appointed a financial adviser to examine AngloGold's offer and Bartels said the adviser was expected to have reported back on Thursday.

Ghana holds 17 percent in Ashanti, including a golden share allowing it to veto the takeover.

AngloGold said in a separate statement on Friday it had been notified that the Ghanaian government intended to take professional advice and said it welcomed this development as an important step forward.
Analysts have said a key sticking point in any deal is the Ghanaian government's stake in Ashanti.
Shares in AngloGold were up 1.9 percent at 1244 GMT, helped also by firmer bullion prices, as the broad market edged up 0.22 percent.
Ghana's information minister Nana Akomea said last month the government had no objection to the merger talks as long as the state's strategic interests were not compromised.
Sources close to the deal have said AngloGold was prepared to let the government retain its golden share for transactions involving the combined company's Ghanaian assets. AngloGold has declined to comment.
Bartels said Randgold Resources had showed interest in a joint venture with Ashanti but had not made a formal offer for the firm. Randgold said last month it had not made a rival bid for Ashanti.
"They made a preliminary approach to Ashanti but we said as government ... they should make a formal offer," Bartels said.

The government said on Friday it expected a proposed takeover of Ashanti Goldfields by South Africa's AngloGold Ltd to be concluded within the next fortnight.

"I think this whole business should be over and done with in the next two weeks," Kwamena Bartels, Ghana's Minister of Private Sector Development, told Reuters on the sidelines of a business conference.

AngloGold has offered to pay 26 shares for every 100 Ashanti shares in the deal, which if successful, would make the South African firm the world leader in gold production with combined annual output of 7.6 million ounces.

Ashanti Chief Executive Sam Jonah said earlier this week the Ghanaian had appointed a financial adviser to examine AngloGold's offer and Bartels said the adviser was expected to have reported back on Thursday.

Ghana holds 17 percent in Ashanti, including a golden share allowing it to veto the takeover.

AngloGold said in a separate statement on Friday it had been notified that the Ghanaian government intended to take professional advice and said it welcomed this development as an important step forward.
Analysts have said a key sticking point in any deal is the Ghanaian government's stake in Ashanti.
Shares in AngloGold were up 1.9 percent at 1244 GMT, helped also by firmer bullion prices, as the broad market edged up 0.22 percent.
Ghana's information minister Nana Akomea said last month the government had no objection to the merger talks as long as the state's strategic interests were not compromised.
Sources close to the deal have said AngloGold was prepared to let the government retain its golden share for transactions involving the combined company's Ghanaian assets. AngloGold has declined to comment.
Bartels said Randgold Resources had showed interest in a joint venture with Ashanti but had not made a formal offer for the firm. Randgold said last month it had not made a rival bid for Ashanti.
"They made a preliminary approach to Ashanti but we said as government ... they should make a formal offer," Bartels said.