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Norton Rose leads on $1bn Allied Gold merger

Norton Rose leads on $1bn Allied Gold merger

Norton Rose has advised Allied Gold Mining Plc on its merger with gold producer St Barbara Limited. The deal sees the creation of a combined group worth about AU$1 billion.

The Norton Rose Group team brought together lawyers from the Group’s London, Canada and Australia offices. . The Australian team was led from Perth by partner Liz Allnutt and senior associate Sarah Lilly.

The London team was led by corporate partners Raj Karia and Paul Whitelock, with assistance from corporate associates Fiona Millington, Emma Howes, Brian Butterwick, Christopher McCarthy and incentives partner Monique Fry.

The Canadian team from Toronto was led by partner Pierre Dagenais, with assistance from corporate associate Bruce Sheiner

Under the terms of the recommended offer, St Barbara will acquire the entire issued and to be issued ordinary share capital of Allied Gold for AU$1.025 in cash and 0.8 St Barbara shares for each Allied Gold share. The deal values Allied Gold at AU$556 million.

The merger means Allied Gold becomes a wholly owned subsidiary of St. Barbara, with current St Barbara shareholders owning 67 per centand Allied Gold shareholders owning 33 per cent of the new group.

Norton Rose Group also advised Allied Gold Mining on its restructuring and listing on the main market of the London (LSE), Australian (ASX) and Toronto (TSX) stock exchanges last year.

Raj Karia, corporate partner at Norton Rose Group said the deal represents a major step for the companies involved and for the wider gold mining market.

“The combined group will be a c.435,000 ounce gold producer, with a development profile spanning exploration to gold production, and the resources to expand further.

“It’s particularly pleasing for us to be able to take Allied Gold through this next stage in its development following its triple listing last year.”


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Norton Rose leads on $1bn Allied Gold merger
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