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Freehills drives Aston Resources $345m stake sale

Freehills drives Aston Resources $345m stake sale

Freehills has advised Aston Resources on the $345 million dollar sale of 15 per cent of its Maules Creek Project.

LAW firm Freehills has advised Aston Resources on the A$345 million dollar sale of 15 per cent of its Maules Creek Project.


The portion of the Project, in New South Wales Gunnedah Basin, has been sold to a subsidiary of Japan’s fourth largest resources and trading company ITOCHU Corporation.


The transaction completed on 6 May.


On completion, Aston and ITOCHU have formed the Maules Creek Joint Venture. 


Freehills corporate partner Matthew FitzGerald led the deal, supported by lawyers Mary Boittier, John Taberner, Phillip Rattenbury, Matthew Mckeown and Magda Spychalska. Banking and finance partner Hayley Neilson was supported by lawyers Marnie Fels, Simone Edwards and Natasha Skinner. 


Baker & McKenzie acted for ITOCHU.  Blake Dawson acted for Aston’s financiers.


Freehills acted for the Brisbane-based company on its debut on the Australian stock market in August last year. Mallesons Stephen Jaques acted for the underwriters. Under the IPO, Aston Resources raised about $400 million.


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