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Gindalbie Metals advised on demerger and acquisition

Clayton Utz has advised ASX-listed Gindalbie Metals Limited on two transactions surrounding a demerger and acquisition by a Hong Kong company.

July 25, 2019 • By Emma Musgrave
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Firm: Clayton Utz (Gindalbie Metals Limited)

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Deal: Gindalbie Metals Limited's (Gindalbie) wholly owned subsidiary, Coda Minerals Limited (Coda), has been demerged to Gindalbie shareholders. Further, Gindalbie has been acquired by its Chinese joint venture partner and major shareholder, Angang Group Hong Kong (Holdings) Limited (Ansteel). 

 
 

Value: Undisclosed

Area: Corporate, M&A

Key players: Corporate partner Mark Paganin and special counsel Stephen Neale led the firm's team, with key support from lawyers Benjamin Depiazzi and Matthew Johns. 

Partner Cameron Belyea and lawyer James Sprivulis led the court aspects of the transactions.

Deal significance: According to a statement from Clayton Utz, the transactions were implemented by way of two inter-conditional schemes of arrangement.

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Gindalbie shareholders received $0.026 cash per share and eligible Gindalbie shareholders received one share in Coda for every 45 Gindalbie shares held, the firm noted.

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Emma Musgrave

Emma Musgrave

Author

Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.

Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences. 

Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.

She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University. 

Email Emma on: This email address is being protected from spambots. You need JavaScript enabled to view it. 

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