Ashurst acts as UK private equity buys majority stake in Aussie miner

Acting on the acquisition continues years of working with the client, the lead partner says

Ashurst acts as UK private equity buys majority stake in Aussie miner

Ashurst is helping Verdant Minerals on its majority-stake sale to a UK-based private-equity firm.

Verdant has entered into a scheme implementation agreement with CD Capital Natural Resources Fund III. CD Capital is buying 67% of all Verdant shares, with Washington H. Soul Pattinson and Co to remain as minority shareholder after the deal closes.

The offer is $0.032 per share, a 113% premium to Verdant’s share price on 8 March. The deal values Verdant at $40.5m.

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Partner Kylie Lane heads the Ashurst team, which also includes senior associate James Brownstein and lawyer Stephanie Mattei. Partner Kenneth Nguyen is handling banking matters.

Lane said that Ashurst has been working with Verdant for a number of years.

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