The deal sees the creation of a combined group with a market capitalisation of some AU$1 billion. St Barbara will acquire the entire issued and to-be-issued ordinary share capital of Allied Gold for more than AU$1bn in cash and 0.8 St Barbara shares for each Allied Gold share. The deal values Allied Gold at AU$556 million and as it becomes a wholly owned subsidiary of St Barbara – with current St Barbara shareholders owning 67 per cent and Allied Gold shareholders owning 33 per cent of the new group.
The Norton Rose team was led by lawyers from the group’s London headquarters as well as its Canada and Australia offices. The London team was led by corporate partners Raj Karia and Paul Whitelock; the Canadian team from Toronto was led by partner Pierre Dagenais and the Australian team was led from Perth by partner Liz Allnutt.