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Herbert Smith Freehills advises ERAMET on A$350m takeover of Mineral Deposits Limited

27 July 2018 | Australia, Asia Pacific
Deals and cases

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Herbert Smith Freehills is advising ERAMET SA (ERAMET) on its $A350m off-market takeover bid for ASX-listed Mineral Deposits Limited (MDL).

ERAMET and MDL operate the TiZir Joint Venture, which comprises two integrated operating assets, being the Grande Côte mineral sands operation in Senegal and the TiZir Titanium and Iron ilmenite upgrading facility in Norway. The successful takeover bid will allow ERAMET to increase its exposure to TiZir by consolidating the joint venture.

ERAMET is listed on the Euronext Paris exchange and is the parent entity of the ERAMET Group, a leading global mining and metallurgical business, which produces manganese, nickel, alloys and other non-ferrous metals for customers worldwide. The ERAMET Group currently has operations in almost 20 countries across five continents and employs approximately 12,600 people.

The Herbert Smith Freehills team is being led by partner Tony Damian, together with senior associate Li-Lian Yeo, and solicitors Joshua Santilli and David Southwood. The team is being supported by partner Rebecca Major and of counsel Laurence Vincent from the Herbert Smith Freehills office in Paris.

Tony Damian said, “We are delighted to be working with ERAMET on its first Australian acquisition. This deal is a great example of the high levels of cross-border M&A that we are seeing at the moment.”

Macquarie Capital is acting as ERAMET’s financial adviser.

This deal is another example of Herbert Smith Freehills’ market-leading work in listed mining and resources M&A. Other recent examples include advising OZ Minerals Limted on its takeover of Avanco Resources and Mitsui on its takeover of AWE. In the first half of 2018, Herbert Smith Freehills was ranked 1st by deal count and deal value for completed M&A deals in Australia and New Zealand by Thomson Reuters.

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About Herbert Smith Freehills

Operating from 27 offices across Asia Pacific, EMEA and North America, Herbert Smith Freehills is at the heart of the new global business landscape providing premium quality, full-service legal advice. The firm provides many of the world’s most important organisations with access to market-leading dispute resolution, projects and transactional legal advice, combined with expertise in a number of global industry sectors, including Banks, Consumer products, Energy, Financial buyers, Infrastructure & Transport, Mining, Pharmaceuticals & Healthcare, Real estate, TMT and Manufacturing & Industrials.

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