Corrs Chambers Westgarth advises Azure Minerals on A$1.70 Billion acquisition proposal
Corrs Chambers Westgarth guides Azure Minerals through proposed joint acquisition by SQM and Hancock
Australia's esteemed independent law firm, Corrs Chambers Westgarth, has played a pivotal role in advising Azure Minerals Limited (ASX:AZS) on a significant proposed joint acquisition worth A$1.70 billion. This acquisition involves a collaboration between Sociedad Química y Minera de Chile S.A. (SQM) and Hancock Prospecting Pty Ltd (Hancock) in acquiring Azure.
Under a transaction implementation deed, SQM and Hancock, represented by SH Mining Pty Ltd, a joint bid acquisition vehicle, aim to secure the entire shareholding of Azure either through a scheme of arrangement or, if necessary, an off-market takeover.
The Corrs team, led by corporate partner Christian Owen, provided comprehensive guidance to Azure throughout this transaction. The team received support from partners Jeremy Horwood, Mark McCowan, and Katrina Sleiman, as well as senior associates Jonathan Dos Santos and Nick Lindsay, alongside experts from various divisions within Corrs, including public M&A, energy and resources, competition, and litigation practices.
Expressing satisfaction with the collaboration, Corrs partner Christian Owen highlighted the intensity of competition in the lithium asset market this year. He praised Azure's executive team for their diligent efforts, noting that the interest in Azure speaks volumes about the potential of Azure's Andover lithium project.
Owen further emphasized the intricacies and innovative nature of this transaction, showcasing Corrs' proficiency in advising on strategically crucial deals within the energy and resources sector. This landmark deal underscores the firm's capabilities in handling complex transactions within the industry.