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Minters, Mills Oakley, advise on Bendigo merger

Minters, Mills Oakley, advise on Bendigo merger

Minter Ellison is advising Bendigo Mining on its newly announced planned merger with BCD Resources.

MINTER Ellison is advising Bendigo Mining on its newly announced planned merger with BCD Resources.

Australain-listed gold producers Bendigo Mining and BCD Resources NL, formerly Beaconsfield Mining) have announced they have entered into an agreement to merge.

The merger will be implemented by a scheme of arrangement and the companies say it will create a significant mid-tier Australian gold mining business.

Bendigo will acquire all of the ordinary shares in BCD and BCD shareholders will receive 0.72 Bendigo shares for each BCD share held. This implies a combines market capitalisation of $162 million.

Bendigo, a long standing client of Minters Ellison, owns and operates two producing underground gold mines in Australia, including the Kangaroo Flat Mine in Bendigo, Victoria, and the Henty Gold Mine on the West Coast of Tasmania.

Bendigo is also being advised by Gryphon Partners, while BCD is being advised by law firm Mills Oakley , as well as Grant Samuel.

“Bendigo Mining's proposed merger with BCD Resources is a significant transaction as it will, if implemented, create a significant mid-tier Australian gold mining business that combines highly complementary operational, development and exploration profiles,” said Minters lead partner Marcus Best.

Shareholders are expected to vote in November 2010.


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