Billion-dollar joint venture formed with help from G+T

The firm’s involvement in the transaction was multi-faceted, one of the lead partners said

Billion-dollar joint venture formed with help from G+T

Gilbert + Tobin (G+T) has helped form a billion-dollar joint venture.

The top firm advised Mineral Resources, which has formed joint venture with Albemarle to operate the Wodgina Lithium Project, the largest hard-rock lithium deposit in the world.

The deal involves Mineral Resources selling a 60% stake in the Wodgina Lithium Project in the Pilbara region north of Western Australia to Albemarle for US$820m in cash. The acquisition also give Mineral Resources a 40% interest in two lithium hydroxide trains at Albemarle’s Kemerton Project near Bunbury, Western Australia, bringing the transaction value to US$1.3bn.

In January, MinterEllison confirmed its role advising the NYSE-listed Albemarle on what was then touted as a $1.5bn deal.

The deal has resulted in Albemarle and Mineral Resources forming a 60:40 joint venture the Wodgina project, as well as the lithium hydroxide trains at Kemerton, G+T said. The partners have also signed ancillary arrangements for marketing and mining services and plant operations.

Justin Little, G+T energy and resources partner, said that the transaction is strategically important for Mineral Resources. He said that G+T’s involvement in the deal was multi-faceted, with the firm applying its expertise in M&A and project development to successfully complete the deal despite challenging conditions in the lithium sector.

Little headed the G+T team with corporate advisory partner Justin Mannolini. They were supported by senior associate Matthew Watkins and lawyer Gabrielle Sumich.

Partner Luke Woodward and lawyers Amelia McKellar and Richard L’Estrange assisted with competition and regulation matters in Australia and China. Partner Muhunthan Kanagaratnam advised on taxation, while partner Amanda Hempel provided real estate and projects advice.

G+T also said that it advised Mineral Resources alongside JunHe on Chinese anti-trust law matters.

Recent articles & video

Federal Court grants extension for unfair dismissal case of justice department employee

Legal Aid NSW: Wage theft common among migrant workers

De Grey Mining Limited kicks off $600m equity raising with G+T's help

Consilio inks long-term team-up with analytics and intelligence software provider

Thomson Geer partner on the biggest impact of the Bruce Lehrmann defamation ruling

Federal Court rules in ASIC's favour against Cigno Australia, BSF Solutions

Most Read Articles

Thomson Geer partner on the biggest impact of the Bruce Lehrmann defamation ruling

Hall & Wilcox assists Tobii Dynavox to acquire Link Assistive for $13m

Pearce IP's AU litigation head shares the most important lesson she learned from her old job

Aquila Clean Energy APAC gets Ashurst’s help on NZ solar PV project procurement and financing