Firms: Minter Ellison (Gujarat NRE Mineral Resources Limited); King & Wood Mallesons (Buru)
Deal: Sale of Gujarat NRE Oil Ltd to ASX-listed Buru Energy Limited
Area: M&A (Energy & Resources)
Value: $36 million (cash)
Key players: The KWM team was led by Perth partners Daniel Kirk and David Perks. Sydney-based partners Callen O'Brien (pictured) and Ben Smith led for Minters, together with senior associate Sebastian Rosholt
Deal significance: NRE Resources Pty Limited, an Australian wholly-owned subsidiary of Indian-based mining and oil and gas exploration company Gujarat NRE Mineral Resources Limited, has agreed to sell 100 per cent of the share capital of its wholly-owned subsidiary Gujarat NRE Oil Ltd to ASX-listed Buru Energy Limited. Gujarat NRE Oil Ltd holds a 90 per cent participating interest in an unincorporated joint venture (with ASX-listed Rey Resources Limited), which is engaged in exploration activities for petroleum products in two significant Canning Basin permits, EP457 and EP458.
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