Freehills has advised Aston Resources on the $345 million sale of 15 per cent of its Maules Creek project in New South Wales' Gunnedah Basin to a subsidiary of Japan's fourth largest resources and trading company, Itochu Corp, advised by Baker & McKenzie.
On completion, Aston and Itochu will form the Maules Creek joint venture.
The Freehills team advising Aston was led by partner Matthew FitzGerald, who was supported by lawyers Hayley Neilson, John Taberner, Philip Rattenbury, Mary Boittier, Matthew McKeown, Nicholas Carney and Magda Spychalska.
Freehills lead partner Matthew FitzGerald said: "This transaction is important because it takes Aston a step closer to developing the Maules Creek Project, which is Aston's major asset."
The deal is subject to approval from Australia's Foreign Investment Review Board.