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GFG Alliance makes ‘strategic investment’ in ASX-listed giant

Ashurst has advised GFG Alliance on its “strategic investment” in ASX-listed copper ores company Havilah.

user iconEmma Musgrave • 10 May 2019 • Big Law
Ashurst
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Firm: Ashurst (GFG Alliance)

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Deal: GFG Alliance has made an investment in Havilah Resources Limited, whereby it has proposed a share subscription which will fully fund Havilah’s work programs for its iron ore assets and copper prospects in the Mutooroo Copper-Cobalt District in South Australia’s northeast.

Value: $100 million 

Area: Finance, resources

Key players: The Ashurst team was led by partner and head of corporate Elspeth Arnold, with support from partner Lynda Tully, counsel Eliza Blandford and associates Sophie Mattei, Alex Kedzior and Mariana Estifo.

Partner Martin Coleman and senior associate John Renda advised on banking aspects and partner Ross McClymont advised on restructuring aspects, while tax advice was provided by partner Geoff Mann and senior associate Kristina Popova.

Deal significance: “The funding will be provided by a series of equity placements in Havilah at a premium up to 35 per cent, over an expected period of three years, potentially providing GFG Alliance with a 51 per cent stake in Havilah if all equity placements are made,” a statement from Ashurst explained.

“The subscription are subject to Havilah shareholder approval.

“The transaction establishes a strategic alliance between GFG and Havilah, with GFG having the capacity to support and facilitate the future growth of Havilah through access to global capital markets, capital investment, technical assistance and commercial offtake agreements.”

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Emma Musgrave

Emma Musgrave

Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.

Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences. 

Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.

She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University. 

Email Emma on: This email address is being protected from spambots. You need JavaScript enabled to view it. 

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