London firms advise on Australian mining takeover
10th July 2012
Two London-headquartered international law firms have been given roles advising on the multimillion-dollar takeover of Allied Gold Mining by fellow Australian outfit St Barbara.
Those involved in each side of the deal, which is worth A$556 million (£366m), employed the services of a number of corporate partners and others holding senior solicitor jobs within both practices to assist in completing the transaction – choices that were made following a period of intense competition to decide who would be given responsibility in such high-profile matters. Recently, one of the firms involved led when Allied ‘went public’ in the Australia, London, and Toronto stock exchanges.
Allied Gold Mining itself did not have the option of drawing on its own legal representatives, as the Pacific Rim producers currently operate without a dedicated in-house team; instead, external hires are made by a group of authority figures at the top of the organisation, including CEO Frank Terranova and company secretary Peter Torre, who does not hold a lawyer qualification.