May 16 (Reuters) - Eldorado Gold Corp ELD.TO :
* Eldorado announces agreement to sell White Mountain and
Tanjianshan Mines and Eastern Dragon Development Project
* Deal for $600 million
* Agreement provides for an RMB equivalent US$30 million
deposit to be paid by purchaser and forfeited under certain
circumstances
* Intends to redeploy net proceeds from disposition of its
chinese assets to continue to grow its business based on long
lived, low cost assets
* Transaction is expected to close in third to Q4 2016
* Following close, intends to redeploy net proceeds from
disposition of chinese assets to continue to grow business
* Agreement provides for a reverse break-fee of $30 million
payable by Eldorado to purchaser under certain circumstances
* BMO Capital Markets and Cutfield Freeman & Co are acting
as financial advisors
* To sell interest in White Mountain and Tanjianshan Mines
and Eastern Dragon Development Project to affiliate of Yintai
Resources Co
Source text for Eikon: ID:nPn3RXRHxa
Further company coverage: ELD.TO