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Gold mine acquisition completed
A private equity consortium has acquired 95 per cent of the Martabe Mine in Indonesia with advice from several firms.
Lara Bullock
Firms: Clayton Utz and Allen & Overy (EMR Capital, Farallon Capital and partners); Sullivan & Cromwell (G-Resources Group Limited)
Value: US$775 million
Area: M&A
Key players: The Clayton Utz team included partner John Brewster (pictured), senior corporate adviser Rod Lyle and lawyer Aimee Nguyen.
Deal significance: A consortium comprising EMR Capital, Farallon Capital and partners acquired a 95 per cent stake in Indonesia's Martabe Mine from G-Resources Group Limited for US$775 million.
The Martabe Mine is a major gold and silver mine in Asia and was the main asset of G-Resources Group Limited prior to this transaction.
The transaction represents one of the largest leveraged buy-outs of a gold-producing asset globally, according to a statement from Clayton Utz.
The transaction involved complex cross-border negotiations, which spanned more than 24 months, among a number of stakeholders, including the vendor, the consortium, mezzanine lenders and senior debt providers.
The transaction was completed on 17 March.
