The firm said the deal will immediately boost its gold production by 50% to 282,000-304,000oz for 2012 along with a market capitalization of $977m.
Endeavour chief executive Neil Woodyer said that Avion’s acquisition complements the firm’s strategy to become a diversified West African gold producer.
"Avion’s Tabakoto Mine and Kofi property in western Mali and the advanced Houndé property in Burkina Faso fit very well into Endeavour’s production and development portfolios," Woodyer added.
In addition, the company said it will provide Avion with a $20m bridge loan to expand its mill at the Tabakoto operation in western Mali.
Endeavour, which plans to add 1,800km² of exploration ground to its reserve, expects the deal to close in October this year.
