find the latest legal job
Corporate/Commercial Lawyers (2-5 years PAE)
Category: Corporate and Commercial Law | Location: Adelaide SA 5000
· Specialist commercial law firm · Long-term career progression
View details
Graduate Lawyer / Up to 1.5 yr PAE Lawyer
Category: Personal Injury Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Mentoring Opportunity in Regional QLD · Personal Injury Law
View details
Corporate and Commercial Partner
Category: Corporate and Commercial Law | Location: Adelaide SA 5000
· Full time · Join a leading Adelaide commercial law firm
View details
In-house Legal Counsel & Commercial Lawyers
Category: Corporate and Commercial Law | Location: All Sydney NSW
· Providing lawyers with flexibility and control over when they work, how they work and who they work for.
View details
In-house Legal Counsel & Commercial Lawyers
Category: Corporate and Commercial Law | Location: All Melbourne VIC
· Providing lawyers with flexibility and control over when they work, how they work and who they work for.
View details
Deacons acts for China Sci-Tech on Oz Minerals Martabe acquisition

Deacons acts for China Sci-Tech on Oz Minerals Martabe acquisition

Deacons has acted for China Sci-Tech Holdings on the acquisition of the entities (a group of Australian, Singaporean and Indonesian companies) operating the Martabe Project from OZ Minerals…

Deacons has acted for China Sci-Tech Holdings on the acquisition of the entities (a group of Australian, Singaporean and Indonesian companies) operating the Martabe Project from OZ Minerals Limited, after a competitive sale process was undertaken by OZ Minerals. The deal is valued at $306 million.

The Martabe Project, a gold and silver mining project in North Sumatra, Indonesia, has a complex asset and ownership history. The sale agreement for the transaction, along with a comprehensive due diligence report covering multi-jurisdictional legal matters, were finalised in a little over 2 weeks after the commencement of work.

Given the short timeframe of the transaction, due diligence findings were reported to CST and addressed in sale agreement negotiations while the matter was in progress. This was a balancing act for the Deacons team, led by partner James Stewart.

"The challenges this transaction provided included finding the right balance of protection for our client in the sale agreement with terms that were going to be the most attractive to OZ Minerals and their banking syndicate who were running a competitive sale process, while simultaneously conducting due diligence in multiple jurisdictions in a three week timeframe, that included Easter," Stewart said.

"This required us to quickly mobilise resources in our Perth, Melbourne, Sydney, Jakarta and Singapore offices. It is another good example of our ability provide a seamless service to clients undertaking cross border transactions in the South East Asia region."

The transaction team included Deacons' Perth, Melbourne, Sydney, Jakarta and Singapore offices was led by James Stewart (Perth office), with Gary Thomas (Melbourne) managing the due diligence process and working with Rick Beckmann (Jakarta) and Deacons' Singapore office to deliver the multi-jurisdictional due diligence report.

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Deacons acts for China Sci-Tech on Oz Minerals Martabe acquisition
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Dec 13 2017
Young humanitarian lawyer California-bound
A young Australian lawyer will be travelling to the US next year for a prestigious nine-month study ...
Jackie Rhodes
Dec 12 2017
Report sheds light on LGBTQI inclusion in law firms
A recent report has revealed the varying perceptions on LGBTQI diversity and inclusion in the Austra...
Women in business
Dec 12 2017
Annabel Crabb headlines Women in Business Forum
Political journalist Annabel Crabb has appeared at the Coleman Greig Lawyers Women in Business Forum...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...