Australia: Clayton Utz advising Sundance on Hanlong proposal
Last Updated: 18 July 2011

Perth, 18 July 2011: Clayton Utz is advising ASX-listed international iron ore exploration and development company Sundance Resources Limited in connection with an all-cash conditional proposal to acquire 100 percent of Sundance by China's Hanlong Mining Investments, announced to the market today.

Under the proposal, Hanlong Mining – currently Sundance Resources' major shareholder, with an 18.6 per cent stake - proposes to acquire the remaining shares in Sundance via a scheme of arrangement, at a price of A$0.50 per Sundance share attributing an approximate A$1.4 billion value.

Clayton Utz Perth Corporate / M&A partner Mark Paganin is the firm's lead partner on the deal, with support from Perth colleague and Corporate / M&A partner Matthew Johnson.

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