Minerva Mine Acquisition

Minerva Mine Acquisition

McCullough Robertson advised Sojitz on the acquisition of Yancoal’s majority joint venture interest in the $450 million Minerva mine in December 2010.

The Minerva joint venture owns and operates a significant Queensland coal mine and involves Yancoal, Sojitz and Kores (Chinese, Japanese and Korean companies).

The deal took well over 12 months to complete and required a significant restructure of a related exploration joint venture, a potential legal challenge to the pre emptive rights, financing, a detailed valuation process, due diligence, threatened injunctive and other legal action and complex structuring including stamp duty and GST issues.

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