Listed minerals company to be acquired by asset management firm

By Jerome Doraisamy|18 March 2019

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.

Area: Corporate

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.”

Listed minerals company to be acquired by asset management firm
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