Natural resources and royalties business Anglo Pacific Group has acquired a portfolio of royalties from an investment group in a deal worth $270 million.
Firm: Clayton Utz (Anglo Pacific Group)
Value: $270 million
Area: Corporate, mergers and acquisition
Key players: Corporate partners Brett Cohen and Stuart MacGregor led the Clayton Utz team, which included key transaction lead senior associate Georgia Denny and lawyer Luke Crofts.
Deal significance: The US$185 million ($270 million) consideration comprises a US$47 million cash payment, six quarterly cash payments totalling US$55 million (to be paid over the next 18 months), and an US$82.4 million share issuance to South32, which will become a 16.9 per cent shareholder in the enlarged business.
In a statement, Anglo Pacific said the transaction “further reinforces [our] position as the leading royalty and streaming company focused on future-facing commodities that are critical to achieving the energy transition required to support a more sustainable world”.
Congratulating Anglo Pacific, the firm said: “It has been a privilege to work with our long-standing client Anglo Pacific Group on this significant acquisition of a high-quality portfolio of royalty interests over advanced development projects in multiple jurisdictions around the world.”
Lauren is the commercial content writer within Momentum Media’s professional services suite, including Lawyers Weekly, Accountants Daily and HR Leader, focusing primarily on commercial and client content, features and ebooks. Prior to joining Lawyers Weekly, she worked as a trade journalist for media and travel industry publications. Born in England, Lauren enjoys trying new bars and restaurants, attending music festivals and travelling.
