Baker McKenzie is very pleased to be advising Ausgold Limited on its proposed $776 million scheme of arrangement acquisition by OceanaGold Corporation announced today.
Ausgold owns the flagship low-cost, long-life and large-scale gold development project in the Katanning region in Western Australia.
Ausgold shareholders can elect to receive cash subject to a maximum cash pool of $194 million with any balance being in the form of OceanaGold Corporation shares listed on the Toronto Stock Exchange.
The implied offer price represents a significant and attractive premium to the Ausgold last traded share price and various volume weighted average share price calculations.
Joint lead Baker McKenzie M&A partners Richard Lustig and Rick Troiano stated: “This transaction provides an attractive premium to Ausgold shareholders together with the opportunity for them to participate in the future growth of a larger, globally diversified gold and copper producer. The proposed combination brings together a high-quality Australian development asset and an established international mining company with the financial strength, operational expertise and market presence to support the next phase of the Katanning Gold Project’s development.”
Richard and Rick further commented: “We are proud to have supported Ausgold on this significant transaction, which highlights the continued attractiveness of Australian mining assets to international investors and demonstrates the strength of collaboration across Baker McKenzie’s Australian and Canadian teams in delivering complex cross-border M&A transactions.”
The Baker McKenzie team also comprises M&A lawyers Adrienne de Bruyn, Addison Naylor and Brandon Botting. The Baker McKenzie Canadian team is being led by M&A partners Haran Viswanathan and David Palumbo. The Baker McKenzie tax team is being led by partner Victoria Lanyon supported by Aiden Varvaressos. The Baker McKenzie court team is being led by partner Helen Joyce supported by Johnny Nguyen.
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