The deal positions precious metals producer Pan African for ASX listing
Corrs Chambers Westgarth has advised London- and Johannesburg-listed precious metals producer Pan African Resources plc on its proposed $311m acquisition of ASX-listed Emmerson Resources Ltd.
The transaction, structured as a recommended court-approved scheme of arrangement, would see Pan African Resources acquire 100% of the issued share capital in Emmerson Resources. Pan African Resources, incorporated in England and Wales, is Emmerson Resources’ joint venture partner in the Tennant Creek mineral field in the Northern Territory.
Corrs partner Russell Philip led the advisory team that handled all aspects of the transaction. The team included partners Oliver Carrick, Cameron Blackwood, Ronan Boothman, Rebecca Field, Lara Hall, Jeremy Horwood, Peter Jarosek and Adam Stapledon; lawyers from the corporate, banking and finance, regulatory, tax, energy and natural resources, real estate, and employment, labour, and safety practices assisted as well.
Philip said the deal consolidated Pan African Resources’ ownership over the Tennant Creek mineral field.
“The transaction also marks a meaningful step in Pan African’s growth strategy in the Australasian region, including its proposed foreign exempt listing on the ASX alongside its existing main market listings on the London Stock Exchange and the Johannesburg Stock Exchange”, he said.
