Australia: Clayton Utz acts for private equity consortium on US$775 million Martabe Mine LBO
Last Updated: 5 April 2016

Melbourne, 1 April 2016: Clayton Utz has acted for a consortium comprising EMR Capital, Farallon Capital and partners on its US$775 million acquisition of a 95% stake in Indonesia's Martabe Mine, from HK-listed G-Resources Group Limited.

The transaction represents one of the largest leveraged buy-outs of a gold-producing asset, globally.

Clayton Utz senior corporate adviser Rod Lyle and partner John Brewster led the Clayton Utz deal team, which included lawyer Aimee Nguyen. 

As lead legal counsel to the consortium, Clayton Utz provided strategic and deal structuring advice, led negotiations with the vendor on the transaction documentation, and co-ordinated input from foreign legal counsel and other advisors to the consortium.

The transaction involved complex cross-border negotiations, which spanned more than 24 months, among a number of stakeholders, including the vendor, the consortium, mezzanine lenders and senior debt providers.  

The transaction positions EMR Capital as a significant resources private equity fund in the region.

The Martabe Mine is a major producing gold and silver mines in Asia and was the main asset of G-Resources Group Limited prior to this transaction. 

The transaction was recently approved by shareholders of G-Resources Group Limited in Hong Kong and then completed on 17 March 2016.

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