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Orica acquires Axis Mining Technology, completes equity raise

Listed commercial explosives company Orica (ASX: ORI) has been advised on its acquisition of Axis Mining Technology and equity raising.

user iconJerome Doraisamy 26 August 2022 Big Law
Orica acquires Axis Mining Technology, completes equity raise
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Firm: Gilbert + Tobin (Orica)

Deal: Orica has acquired 100 per cent of the share capital in the entities that own Axis Mining Technology for upfront cash consideration of $260 million and a deferred earn-out payment up to a maximum of $90 million, as well as an equity raising comprised of a fully underwritten $650 million institutional share placement and share purchase plan capped at $75 million.

Area: Merger and acquisition, corporate advisory

Value: N/A

Key players: The G+T team was led by co-head of M&A and corporate advisory Neil Pathak and partner Ben Macdonald, who were supported by lawyers Stephanie Rowan, Andrew Earle, Eugene Teo, Matthew Scrocca, Ali Al Ebrahimi, Joyce Hossack and Maxwell Collins.

This team was also supported by IP partner Anna Smyth and her team, competition and regulation partner Andrew Low and his team, real estate partner Amanda Hempel and her team, technology and digital partner Mike Caplan and his team, and employment special counsel James Pomeroy and his team.

G+T also worked closely with leading law firms in Canada, Chile, South Africa and the UK.

Deal significance: Mr Pathak and Mr Macdonald said: “We are delighted to have advised long term client Orica on this highly strategic acquisition which further bolsters Orica’s digital solutions platform.

“We look forward to continuing to work with Orica.”

Jerome Doraisamy

Jerome Doraisamy

Jerome Doraisamy is the managing editor of Lawyers Weekly and HR Leader. He is also the author of The Wellness Doctrines book series, an admitted solicitor in New South Wales, and a board director of the Minds Count Foundation.

You can email Jerome at: jerome.doraisamy@momentummedia.com.au 

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