Maddocks law firm has advised WPG Resources Limited on the sale of its iron ore assets to OneSteel for approximately $364 million, one of this year’s most significant mining merger and acquisition deals.

 

Signing took place late Sunday evening following an intensive program of work conducted by Maddocks to negotiate, structure and document the sale and financing arrangements.

 

Maddocks consultant Jeff Goss led the Maddocks M&A team assisted by M&A partner Andrew McNee and Banking & Finance partner Sean Rush, and a group of specialist M&A and commercial lawyers.

 

“This has been a challenging and complex transaction and has drawn on the diverse skills and expertise of our team members acting on large M&A deals,” said Mr Goss.

 

“The Maddocks team has been working with WPG Resources Limited on a number of transactions over the past year, including on the successful capital raising for the Peculiar Knob project in South Australia, the joint venture arrangements with Evergreen in relation to WPG’s coal assets and now the sale to OneSteel of WPG’s iron ore assets. We are proud to have assisted WPG Resources with this sale, which is set to deliver a number of attractive benefits to WPG shareholders. It was fabulous to work in tandem with WPG’s executive team to achieve the sale in just two weeks.”

 

According to Mr Peter Shaw, Maddocks Sydney Partner in Charge, “This transaction is testimony to the firm’s ability to act on large-scale, complex merger and acquisition deals.”