05 June 2008
Sydney, 5 June 2008: Clayton Utz has advised River Diamonds Plc, a UK-based exploration and mining company, in connection with the acquisition of Westech Gold Pty Limited from the Wesson family.
The acquisition secures for River Diamonds Westech Gold's extensive mining tenements in Fiji.
The acquisition is also a critical step towards the re-admission to trading of the shares of River Diamonds on the London Stock Exchange's Alternative Investment Market.
Clayton Utz drew on a range of legal expertise to complete the transaction, providing River Diamonds and its UK advisors with corporate and structuring advice as well as stamp duty, taxation and litigation advice.
The Clayton Utz team was led by partner John Elliott and included senior associate Rory Moriarty and solicitors Adrian Beerworth and Richard Abraham.
"The transaction presented legal challenges because of the complex structure of the Westech Gold group of companies, " Mr Elliott said.
"We managed to unravel the structure for River Diamonds, correct the irregularities and provide a smooth transition of ownership to our client."
