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Equity manager acquires WA mine

Equity manager acquires WA mine

Geoff Simpson

A global firm has advised on a deal that saw a national specialist mining private equity manager nab 100 per cent of the shares in a mine in Western Australia.

Firms: Allen & Overy (EMR Capital); Clayton Utz (MMG Limited)

Deal: EMR Capital has acquired 100 per cent of the shares in MMG's Golden Grove mine.

Value: Approximately US$210 million

Area: M&A

Key players: The legal team advising EMR Capital was led by Allen & Overy Perth managing partner Geoff Simpson (pictured) and senior associate Luke Nicholls.

The legal team advising MMG Limited was led by Clayton Utz corporate partner Brett Cohen, with assistance from senior associate Armin Fazely and lawyers Kaley Ohariw and Milana Sarenac.

Deal significance: EMR Capital is an Australian specialist mining private equity manager. The company's acquisition will see it control 100 per cent of the shares in MMG's Golden Grove: a copper, zinc and precious metals mine located in WA.

"The MMG acquisition follows EMR's acquisition of the Martabe gold and silver mine in Indonesia and its acquisition of the Capricorn copper mine in Queensland, both of which Allen & Overy has advised on," Allen & Overy Perth managing partner Geoff Simpson said. 

"This acquisition is further proof of a recovery in deal confidence in the mining sector after years of stagnation."

Meanwhile, Clayton Utz corporate partner Brett Cohen said: "We are pleased to have been given the opportunity to provide strategic advice and support to this longstanding client of Clayton Utz, working alongside MMG and its financial adviser Goldman Sachs to execute the sale agreement for this transaction in a compressed timeframe over the 2016 Christmas holiday break." 


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