AngloGold and Ghana finalise terms on Ashanti deal

LONDON, Dec 12 (Reuters) - South Africa's AngloGold on Friday said it had taken a further important step towards the completion of its acquisition of Ghana's Ashanti Goldfields to create the world's biggest gold producer.

The group said it had finalised the support agreement and agreed definitive terms of a stability agreement with the Ghana government for the $1.77 billion deal.

"We are delighted to have taken this next important step towards the consummation of the merger," said Bobby Godsell, CEO of AngloGold, said in a statement.

We remain very excited by the potential of the combination and look forward to the approval of the merger arrangements by the parliament of Ghana and Ashanti shareholders in the New Year. We are optimistic that the merger will be implemented at or around the end of the first quarter in 2004," he added.