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Uranium merger gets green light

Uranium merger gets green light

Ben Smith Minter Ellison

Minter Ellison helped negotiate a merger between an ASX-listed uranium exploration company and a US uranium developer.

Firms: Minter Ellison (Uranium Resources), Hogan Lovells (Uranium Resources – US adviser), Steinepreis Paganin (Anatolia Energy)

Deal: Anatolia Energy has been merged into Uranium Resources.

Value: $88.7 million

Area: M&A

Key players: Partner Ben Smith headed the Minter Ellison team, assisted by lawyer Muli Zhou and senior associate Kevin Ko.

Deal significance: The transaction will be implemented via three interconditional schemes of arrangement, under which Anatolia security holders will receive equivalent securities in Uranium Resources, Inc, according to a statement from Minter Ellison.

As a result, Uranium Resources, Inc. will seek to be listed on the ASX.

“US-based Uranium Resources, Inc. explores for and develops uranium deposits,” the statement said. “It has more than 200,000 acres of mineral holdings in New Mexico, processing facilities and properties in Texas and a licence to produce up to three million pounds of uranium per year.

“Anatolia Energy Limited is an ASX-listed uranium exploration and development company holding an extensive portfolio of licences within the Republic of Turkey. Its primary asset is the Temrezli uranium project in Central Turkey.”

Minter Ellison predicted the merger would allow the Temrezli uranium project to be fast-tracked into production.

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Uranium merger gets green light
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