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Ancon and Geotech join forces

Ancon and Geotech join forces

Clayton Utz and Gadens have advised on a joint venture between two mining companies following the divestment of Ancon Drilling assets.

Firms: Clayton Utz (Ancon Drilling Pty Ltd), Gadens Lawyers (Geotech Drilling Pty Ltd)

Deal: Divestment of Ancon Drilling assets relating to its contract drilling business and the establishment of an unincorporated joint venture with Geotech Drilling

Value: Undisclosed

Area: Corporate

Key players: Melbourne corporate partner Michael Linehan led the Clayton Utz team with support from lawyers Quentin Reidy and Angela Manolakos. Melbourne senior associate Simon Bowden advised on tax aspects

Deal significance: Ancon Drilling operates out of Korumburra in Victoria and Dalby in Queensland, and provides a range of contract drilling services to the mining industry.

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