Australia’s leading independent law firm, Corrs Chambers Westgarth, has advised Gold Road Resources Limited (ASX:GOR) (Gold Road) on its 100% acquisition of DGO Gold Limited (ASX:DGO) (DGO) by way of off-market takeover.
Announced in April 2022, Gold Road made a unanimously recommended all scrip offer of Gold Road shares for every DGO share, implying an offer price of A$3.55 per share and an equity value of A$308 million (diluted basis). The deal, which completed on 4 August 2022, has now welcomed new shareholders to the Gold Road registry.
The acquisition includes DGO’s strategic investments in ASX-listed companies De Grey Mining (ASX:DEG), Dacian Gold (ASX:DCN) and Yandal Resources (ASX:YRL).
Corrs advised Gold Road on all aspects of the acquisition, led by partners Robert Franklyn and Oliver Carrick, supported by partners Sandy Mak and Adam Foreman, special counsel Marisa Orr and other experts from across the Corporate, Energy and Natural Resources, and Taxation practices.
Commenting on the deal, partner Oliver Carrick said: “We are pleased to advise Gold Road on the successful acquisition of DGO. It’s been a privilege to work again with the best in class management team at Gold Road.”
Gold Road Managing Director and CEO Duncan Gibbs said: “The acquisition of DGO aligns with Gold Road’s strategy to invest in high quality gold projects in tier one jurisdictions.
“Gold Road views the substantial shareholding in the owner of the high quality Hemi Gold Discovery, combined with Gold Road’s ownership of the Gruyere Gold mine, as an exciting opportunity to participate in two of the most significant gold discoveries in Western Australia this century.”