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Clayton Utz, Freehills, act on Minmetals $1.3b bid for Anvil
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Clayton Utz, Freehills, act on Minmetals $1.3b bid for Anvil

Clayton Utz and Freehills are working on Minmetals Resources' $1.3 billion recommended takeover offer of copper producer Anvil Mining.

CLAYTON Utz and Freehills are working on Minmetals Resources' $1.3 billion recommended takeover offer of copper producer Anvil Mining. 


Freehills is advising ASX and TSX listed copper producer Anvil Mining Limited on the all-cash A$1.3bn takeover bid, announced to the market on 30 September.


Under the bid, Minmetals has agreed to make a cash offer to acquire all common shares of Anvil at a price of C$8.00 (approximately A$7.88) per share. 


Minmetals has also entered into a lock-up agreement with Trafigura Beheer B.V., Anvil's largest shareholder.


Anvil's Board of Directors has unanimously recommended shareholders accept the offer.


Anvil's operations are based in the Democratic Republic of Congo, where it has been in production since 2002.


Clayton Utz Perth partners Matthew Johnson and Gary Berson are advising Anvil on the transaction.


The Freehills team is led by Freehills mining industry lead partner John Tivey and senior associate Jonathan Li. 


Freehills partner Daniel Brealey and senior associate Martin McDonald, are advising on the banking and finance aspects of the transaction.


Tivey said: "We are delighted to be once again assisting Minmetals Resources in pursuing its strategy of building a leading international diversified upstream base metals company."


Minmetals Resources is a Hong Kong listed, Australian-based management team mining company which owns and operates a portfolio of world-class base metal mining operations in Australia and Lao PDR as well as a suite of development and exploration projects throughout Australia, Asia and Canada.


Anvil Mining is a copper producer in the Democratic Republic of Congo. Its shares are dual listed in Canada on the Toronto Stock Exchange and in Australia on the Australian Securities Exchange.


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