Sydney, 20 October 2010: Clayton Utz is advising ASX-listed Kingsgate Consolidated Limited on its agreed merger with Dominion Mining Limited, announced today.
Under the proposed Scheme of Arrangement, Kingsgate will acquire all of the shares in Dominion in exchange for 0.31 Kingsgate shares per Dominion share. The transaction values Dominion at approximately A$376 million.
The deal is a further example of the ongoing consolidatiion in the gold mining sector.
Clayton Utz is a leading adviser to participants in the gold mining sector in relation to M&A activity. Recently the firm advised long-standing client Barrick Gold Corporation on its takeover of Tusker Gold Limited, and is currently advising Anatolia Minerals Development Limited on its proposed merger with Avoca Resources Limited.