Listed minerals company to be acquired by asset management firm
Australian metals and mining company Verdant Minerals has been advised on its recommended acquisition by UK private equity firm CD Capital.
Firm: Ashurst (Verdant Minerals)
Deal: Verdant and CD Capital have entered into a scheme implementation agreement, pursuant to which CD Capital will acquire 67 per cent of the issued shares in Verdant.
Value: Participating Verdant shareholders will receive $0.032 per Verdant share held, valuing Verdant at $40.5 million. This, Ashurt said in a statement, represents a 113 per cent premium to Verdant’s closing share price on from earlier this month.
Key players: The Ashurst team was led by corporate partner Kylie Lane, who was assisted by banking partner Kenneth Nguyen, senior associate James Brownstein and lawyer Stephanie Mattei.
Deal significance: Ms Lane commented: “We have advised Verdant for a number of years and are delighted to have assisted to achieve this result for Verdant and its shareholders.”