Wesfarmers to acquire Kidman Resources

By Grace Ormsby|26 May 2019
Ron Smooker and Cath Debreceny

Wesfarmers is acquiring ASX-listed Kidman Resources in a deal worth more than $750 million.

Firm: Maddocks (Kidman Resources); Allens (Wesfarmers)

Deal: Wesfarmers is acquiring Kidman Resources by way of a scheme of arrangement in a deal worth over $750 million.

Value: $776 million

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Area: Mining, Resources, M&A

Key players: Maddocks’ team is being led by partners Ron Smooker and Cath Debreceny. Senior associate Jacqueline Picone and lawyers Sharee Darwinkel and Alexandra Hodsman are assisting.

Deal significance: The acquisition of Kidman Resources is taking place by way of a scheme of arrangement, Maddocks has noted.

Melbourne-headquartered Kidman Resources is an ASX-listed company involved in the development of Mt Holland Lithium Project called Covalent Lithium.

Calling itself “a long-term legal advisor to Kidman”, Maddocks said it has advised the company and its board on ordinary course listed company matters over recent years, as well as a number of significant previous developments.

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The firm has also been involved in liaising and negotiating with multiple stakeholders in the transaction, and named SQM, and major shareholders in Kidman and offtake counterparties as examples.

A statement outlined that Maddocks will continue to advise Kidman on the next stage of its engagement with Wesfarmers.

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Wesfarmers to acquire Kidman Resources
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