Australia’s leading independent law firm, Corrs Chambers Westgarth, has advised Azure Minerals Limited (ASX:AZS) (Azure) on its proposed joint acquisition by Sociedad Química y Minera de Chile S.A. (SQM) and Hancock Prospecting Pty Ltd (Hancock) for A$1.70 billion.
Azure has entered into a transaction implementation deed with SQM and Hancock under which it is proposed that those two entities (via SH Mining Pty Ltd, a joint bid acquisition vehicle) will seek to acquire 100% of the shares in Azure by way of a scheme of arrangement or, if that scheme is unsuccessful, pursuant to an off-market takeover.
Led by corporate partner Christian Owen, Corrs advised Azure on all aspects of the transaction. The team was supported by partners Jeremy Horwood, Mark McCowan and Katrina Sleiman, senior associates Jonathan Dos Santos and Nick Lindsay and experts from across Corrs’ public M&A, energy and resources, competition and litigation practices.
Commenting on the matter, Corrs partner Christian Owen said: “We are pleased to have supported Azure on this transaction. Competition for high quality lithium assets has been fierce this year and the interest in Azure is testament to the hard work of the Azure executive team and reflects the inherent potential of Azure’s Andover lithium project.
“This complex and innovative transaction highlights the firm’s capability in advising on the most strategically important transactions in the energy and resources industry.”