Thomson Geer advised Western Australia-based gold miner Westgold Resources on its proposed A$1.233 billion merger with fellow gold miner Karora Resources.
The merger will see Westgold acquire all the shares in Karora in a cash and scrip offer to Karora shareholders via a plan of arrangement under the Canada Business Corporations Act. The new enlarged Westgold will have a market capitalisation of A$2.2 billion and bring together the Western Australia mining assets of Westgold and Karora and be capable of producing more than 400,000 ounces of gold a year. It will also benefit from significant savings through synergies between the companies.
Thomson Geer worked closely with Westgold and its advisory team on all aspects of the transaction, including strategy and structuring, regulatory analysis and compliance (including FIRB), diligence and documentation, as well as working closely with Canadian counsel to advise on cross border issues.
The Thomson Geer team included David Church, Paul Harley, and Kajal Parmar.