AngloGold hire Citigate for PR in Ashanti takeover bid

Citigate Dewe Rogerson (CDR) has been appointed to handle UK financial PR for AngloGold in its takeover bid for Ashanti Goldfields.

CDR, whose New York-based sister agency Citigate Sard Verbinnen (CSV), already works for the firm in the US, won a competitive pitch to handle the account, which was created as AngloGold’s £680m bid for Ashanti went hostile this month.

The account is being headed in the UK by CDR managing director Patrick Donovan and in the US by CSV director Paul Verbinnen.

Part of the PR work has been to react to a £911m counterbid launched last week by London-listed Randgold Resources.

Randgold retains the services of the South African financial PR firm Du Plessis Associates, which has worked for the company since 1995.

Grandfield associate director Matthew Jervois is handling Ashanti’s account.

AngloGold’s takeover of Ashanti would create one of the biggest gold mining companies in the world, and the bid by Randgold, which predominantly mines gold in Mali has been viewed by some in the financial world as a daring reverse takeover.

On Sunday Ashanti’s biggest shareholder, the London-based platinum miner Lonmin, withdrew its backing for the AngloGold bid saying it would back the decision of the Ashanti board.

The decision of the Ghanaian government, which holds a 17 per cent stake in the company allowing it to block a deal, will be crucial.

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