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Newcrest acquires Lihir

Allens Arthur Robinson has advised international gold company Newcrest Mining Limited on its $9.5 billion acquisition of Lihir Gold Limited, advised by Blake Dawson, which has mining operations…

user iconLawyers Weekly • 29 September 2010 • Big Law
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Allens Arthur Robinson has advised international gold company Newcrest Mining Limited on its $9.5 billion acquisition of Lihir Gold Limited, advised by Blake Dawson, which has mining operations in Papua New Guinea, West Africa and Australia.

 
 

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The deal was completed earlier this month and makes Newcrest the world's fourth largest gold company by market capitalisation, a top 10 listed company on ASX by market weighted capitalisation, and the largest company listed on the Port Moresby Stock Exchange.

The deal was structured under a scheme of arrangement between Lihir and its members under Papua New Guinean law and involved the efforts of lawyers across several jurisdictions, offices and departments at Allens.

Team leader Jon Webster said it involved some novel deal structuring features, including a "go shop" right for Lihir, a relatively rare feature for a major listed company acquisition in the Australian market.

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