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Plutonic deal attracts two heavyweights

Plutonic deal attracts two heavyweights

Clayton Utz and Ashurst have advised the two protagonists on a plutonic mine deal.

Firms: Clayton Utz (Barrick Gold Corporation); Ashurst (Northern Star Resources)

Deal: Barrick divests its plutonic mine in Western Australia to Northern Star.

Area: M&A

Value: $25 million

Key Players: National M&A practice head John Elliott (pictured) led the Clutz team advising the Canadian-based Barrick, with assistance from senior associate Peter Debney. Ashurst acted for Northern Star Resources. The respective financial advisers were EBS Securities Canada and the Bank of America Merrill Lynch for Barrick and RBC Capital Markets for Northern Star.

Deal Significance: Barrick had a disappointing year in 2013, with its share price falling substantially amid key management changes. Prior to this deal, Barrick had also sold three other Australian mines for $300 million to Gold Fields, a deal which Clayton Utz and John Elliott also helped to broker. The transaction is expected to settle in February.

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