Deal: Corrs Chambers Westgarth has advised Gold Road Resources Limited (Gold Road) on its 100 per cent acquisition of DGO Gold Limited (DGO) by way of an off-market takeover.

Value: Approximately $308 million 

Area: Merger and acquisition

Key players: The Corrs team was led by partners Robert Franklyn and Oliver Carrick, supported by partners Sandy Mak and Adam Foreman, special counsel Marisa Orr and other experts from across the corporate, energy and natural resources, and taxation practices.

Deal significance: Announced in April 2022, Gold Road made a unanimously recommended all-scrip offer of Gold Road shares for every DGO share, implying an offer price of $3.55 per share and an equity value of $308 million (diluted basis). The deal, which was completed earlier this month, has now welcomed new shareholders to the Gold Road registry.

The acquisition includes DGO’s strategic investments in ASX-listed companies De Grey Mining, Dacian Gold and Yandal Resources.

Commenting on the deal, partner Oliver Carrick said: “We are pleased to advise Gold Road on the successful acquisition of DGO. It’s been a privilege to work again with the best-in-class management team at Gold Road.”

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Gold Road managing director and chief executive Duncan Gibbs added that “the acquisition of DGO aligns with Gold Road’s strategy to invest in high quality gold projects in tier one jurisdictions”.

“Gold Road views the substantial shareholding in the owner of the high-quality Hemi Gold Discovery, combined with Gold Road’s ownership of the Gruyere Gold mine, as an exciting opportunity to participate in two of the most significant gold discoveries in Western Australia this century,” he said.