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.”

Advertisement
Advertisement
Listed minerals company to be acquired by asset management firm
Intro image
lawyersweekly logo
Big Law

latest

Slaters hits Colonial First State with class action on behalf of 500,000 Australians

Victorian principal found guilty on 9 charges

Maurice Blackburn circles MySuper with new class action

Ruling that litigation funders must pay security for costs has numerous implications