Firms: HWL Ebsworth (Haohua Energy International (Hong Kong) Co. Limited (HEI)); Corrs Chambers Westgarth (CoAL); Dacheng Law Offices (HEI and its parent company, Beijing Haohua Energy Resource Co. Limited (BHE); Edward Nathan Sonnenbergs (BHE and HEI on South African aspects); Norton Rose
Deal: Placement into Coal of Africa Limited (CoAL).
Area: Corporate E&R
Value: $US100 million
Key players: The HWL Ebsworth team was lead by M&A partner Jeremy McCarthy and senior associate Justin Pasa. The Corrs team was led by Jeremy Horwood and Sandy Mak. The placement shares were listed on the AIM market of the London Stock Exchange with the Sydney (lead by Anthony Latimer) and London offices of Norton Rose advising on that aspect of the deal.
China's biggest law firm, Dacheng Law Offices, is listed on the Shanghai Stock Exchange. Africa's largest law firm, Edward Nathan Sonnenbergs, advised BHE and HEI on the South African aspects of the transaction
Deal significance: CoAL is an Australian company listed on the Australian ASX, London AIM and South African JSE. CoAL is a coal exploration, development and mining company operating in South Africa. The placement was made in two tranches, with the second tranche being announced on 31 January 2013, following the receipt of FIRB and PRC regulatory approvals and shareholder approval.
Commenting on the placement, CoAL's CEO was quoted as saying: "The placement would expedite the development of CoAL's projects and lead to the formation of a strategic partnership and provide direct exposure to the world's largest coking coal market. The exchange of financial, technical and operational expertise will facilitate the growth and development of CoAL and the coking industry in South Africa."