Perth, 9 December 2011: Clayton Utz is advising ASX/TSX/NSX listed Extract Resources Limited in connection with the £632 million recommended conditional cash offer made overnight by Taurus Mineral Limited, an entity owned by CGNPC Uranium Resources Co and the China-Africa Development Fund, for AIM listed Kalahari Minerals plc. Kalahari has a 42.74% shareholding in Extract.
The offer for Kalahari includes a proposal to make a downstream cash offer for Extract, which would value the company at approximately A$2.2 billion. The Extract offer is subject to Taurus gaining control of Kalahari.
Clayton Utz Perth Corporate partner Mark Paganin is leading the firm's team advising Extract.