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Clutz strikes gold with multi-million merger

Clutz strikes gold with multi-million merger

Clayton Utz has announced it is advising ASX-listed Kingsgate Consolidated Limited on its agreed merger with Dominion Mining Limited, Under the proposed scheme of arrangement, announced…

Clayton Utz has announced it is advising ASX-listed Kingsgate Consolidated Limited on its agreed merger with Dominion Mining Limited,

Under the proposed scheme of arrangement, announced yesterday (20 October), Kingsgate will acquire all of the shares in Dominion in exchange for 0.31 Kingsgate shares per Dominion share. The transaction values Dominion at approximately $376 million.

Clayton Utz national mergers & acquisitions practice head, John Elliott, is leading the firm's team advising Kingsgate.

Commenting on the transaction, Elliott said: "This is a further example of the ongoing consolidation we are seeing in the gold mining sector. The transaction will strengthen Kingsgate's position as the premier mid-tier gold producer in Australia and provide Kingsgate with an enlarged operational and financial platform."

Johnson, Winter & Slattery is acting for Dominion.

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