Add a bookmark to get started

5 October 20203 minute read

DLA Piper advising Saracen Mineral Holdings on $16 billion merger with Northern Star Resources

Global law firm DLA Piper is advising Saracen Mineral Holdings Limited (ASX: SAR) on its AUD16 billion merger with Northern Star Resources Limited (ASX: NST).

By scheme of arrangement, Northern Star will acquire 100% of the shares in Saracen to create a top ten global major gold producer with assets located exclusively in Tier-1 jurisdictions.

Further information about this significant transaction can be found in the joint company presentation.

DLA Piper have been legal advisers to Saracen since their acquisition of the South Laverton/Carosue Dam assets in February 2006. In late 2019, DLA Piper acted for Saracen on the AUD1.1 billion acquisition of Barrick’s 50% interest in the KCGM Super-pit and its associated AUD796 million equity raising. Subsequently, Northern Star acquired Newmont’s 50% interest in the KCGM super-pit. This merger now consolidates ownership of the Kalgoorlie “Golden Mile” for the first time in its +125 year history.

DLA Piper’s team was led by Global Co-Chair of Energy and Natural Resources Alex Jones and Corporate partners James Stewart and Michael Bowen.

They were supported by Rhys Davies, Tarrant Sewell, Roger Hawkins, Kirsty Hall, Matt Roberts and many others.

Alex Jones said: ‘We are delighted to have the opportunity to support Saracen on this merger and proud to have been with them on their journey since the outset. The synergies for KCGM are obvious. This is an exciting development for the Australian gold mining industry and for the people of Kalgoorlie.”