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Minters behind Rio Tinto acquisition
Minter Ellison has acted for Rio Tinto on a Bid Implementation Agreement with Riversdale Mining Limited, advised by Gilbert + Tobin, which includes a cash offer by Rio Tinto to acquire all of…
Lawyers Weekly
Minter Ellison has acted for Rio Tinto on a Bid Implementation Agreement with Riversdale Mining Limited, advised by Gilbert + Tobin, which includes a cash offer by Rio Tinto to acquire all of the issued shares of Riversdale by way of a recommended off-market takeover offer.
According to Minter Ellison, the Riversdale Directors have recommended that shareholders accept Rio Tinto's offer and have indicated they intend to accept the offer for shares in Riversdale which they control.
Rio Tinto has secured pre-bid agreements in relation to 14.9 per cent of Riversdale's current shares on issue; the maximum amount Rio Tinto can have as a relevant interest without approval from the Foreign Investment Review Board.
Riversdale is a coal mining company listed on the Australian Securities Exchange and included in the S&P ASX100 index. In addition to an anthracite colliery in South Africa, Riversdale owns and is developing two major coking and thermal coal projects in Mozambique: the Benga and Zambeze Projects.
The Minters team was led by partners Costas Condoleon and Simon Scott, with the assistance of lawyers Michael Barr-David, James Philips, Khory McCormack, Andrew Knibb and Tim Sumner.
Gary Besson led the Gilbert + Tobin team.
