find the latest legal job
Banking Associate - 1-6PQE - Allen & Overy
Category: Banking and Finance Law | Location: United Kingdom
· Banking Associate - 1-6 PQE - Allen & Overy
View details
Academic Dean and Head of School of the TC Beirne School of Law
Category: Other | Location: Brisbane QLD 4000
· An outstanding opportunity · Provide educational, research and organisational leadership
View details
Senior Property Lawyer I Commercial Litigator
Category: Property Law | Location: Arncliffe NSW 2205
· Rapidly growing law firm, working with a highly experienced team in a high growth industry across all areas of property and strata law
View details
Senior Property Lawyer I Commercial Litigator
Category: Property Law | Location: All Sydney NSW
· Rapidly growing law firm, working with a highly experienced team in a high growth industry across all areas of property and strata law
View details
Senior Property Lawyer I Commercial Litigator
Category: Property Law | Location: Sydney NSW 2000
· Rapidly growing law firm, working with a highly experienced team in a high growth industry across all areas of property and strata law
View details
Allens leads multi-national OneSteel deal

Allens leads multi-national OneSteel deal

Allens Arthur Robinson has advised Australian steel giant OneSteel on its biggest acquisition since listing on the ASX 10 years ago.Under the new deal, OneSteel will acquire global mining leader…

Allens Arthur Robinson has advised Australian steel giant OneSteel on its biggest acquisition since listing on the ASX 10 years ago.

Under the new deal, OneSteel will acquire global mining leader Anglo American plc's Moly-Cop and AltaSteel businesses in the Americas for $US932 million.

The acquisition of Moly-Cop - which produces grinding media in North and South America - and its Canadian ballstock supplier AltaSteel is conditional on anti-trust clearance in Canada. The parties hope to complete the transaction by the end of 2010.

Led by corporate partner Andrew Finch, the Allens team coordinated a global due diligence group comprising lawyers in Canada, Mexico, Chile and Peru; negotiated and drafted a share purchase agreement; provided regular advice to the board of OneSteel; and facilitated the global coordination of anti-trust advice and filings.

Finch said the acquisition of Moly-Cop and AltaSteel will position OneSteel as a global player in grinding media and provide a platform for further growth in mining consumables.

Allens acted as lead legal adviser on all aspects of the transaction, including corporate, competition and banking. Partner Diccon Loxton, who worked on the finance-related aspects of the deal, said it was rewarding to see that corporate borrowers off the strength of OneSteel can raise funds quickly in this market to make acquisitions.

Other firms involved in the transaction were Machado Meyer Sendacz Opice (Brazil), Osler, Hoskin & Harcourt LLP (Canada), Davies Ward Phillips & Vineberg LLP (Canada), Cariola Diez-Perez Cotapos (Chile), Creel, García-Cuéllar, Aiza Y Enríquez (Mexico), Estudio Ferrero Abogados (Peru) and O'Melveny & Myers LLP (United States).

Like this story? Read more:

Book commemorates diamond milestone for WA law society

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

NSW proposes big justice reforms to target risk of reoffending

Allens leads multi-national OneSteel deal
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Gavel, legal book, criminal lawyers
Jan 19 2018
Three criminal lawyers named NSW magistrates
The NSW Attorney-General has announced the appointment of three new local court magistrates. ...
Warning
Jan 18 2018
Lawyer highlights ‘unintended consequences’ on SSM estate planning
A succession lawyer has warned that the right for same-sex couples to legally marry could have a sub...
drug rehabilitation services available in rural and remote communities
Jan 18 2018
ALS survey shines spotlight on insufficient rehabilitation services
A new survey posted by the Aboriginal Legal Service (NSW/ACT) has revealed an alarming insight into ...
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 & ...