Global law firm Clifford Chance has advised leading global investment firm Oaktree Capital Management on the sale of its investment in ASX-listed resources company EQ Resources Limited to Wonongarra, an investment vehicle wholly owned by Australian businessman and Fortescue founder and executive chairman Dr. Andrew Forrest.
EQ Resources is Australia’s largest producer of the critical mineral tungsten, which is essential to the energy transition and experiences highly concentrated global supply.
David Clee, Lead Partner, said: “We were pleased to support Oaktree on this strategic transaction. The deal required careful navigation of the regulatory framework applicable to ASX-listed companies, while also addressing the transfer of bespoke governance rights, a feature that is relatively uncommon in listed company transactions. Its successful execution demonstrates the value of combining public M&A, governance and private capital expertise to deliver a commercial outcome for our client.”
David led the team and was supported by senior associate Anthony Yelavich and associate Rachael Robinson.
This transaction builds on the firm’s work for longstanding client Oaktree Capital, including advising on its AU$240 million investment and strategic growth partnership with AZ NGA. It also highlights Clifford Chance’s expertise in the critical minerals sector. Read more about the firm’s insights on critical minerals investment here.
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