Australia: Clayton Utz advises Kingsgate on agreed merger with Dominion
Last Updated: 21 October 2010

Clayton Utz is advising ASX-listed Kingsgate Consolidated Limited on its agreed merger with Dominion Mining Limited, announced today.

Under the proposed Scheme of Arrangement, Kingsgate will acquire all of the shares in Dominion in exchange for 0.31 Kingsgate shares per Dominion share. The transaction values Dominion at approximately A$376 million.

Clayton Utz's national Mergers & Acquisitions practice head, John Elliott, is leading the Clayton Utz team advising Kingsgate.

Commenting on the transaction, Mr Elliott said: "This is a further example of the ongoing consolidation we are seeing in the gold mining sector. The transaction will strengthen Kingsgate's position as the premier mid-tier gold producer in Australia and provide Kingsgate with an enlarged operational and financial platform."

Clayton Utz is a leading adviser to participants in the gold mining sector in relation to M&A activity. Recently the firm advised long-standing client Barrick Gold Corporation on its takeover of Tusker Gold Limited, and is currently advising Anatolia Minerals Development Limited on its proposed merger with Avoca Resources Limited.

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