Glencore turned to King & Wood Mallesons (KWM) for advice on its acquisition of the Hail Creek Coal Mine and the Valeria coal development project.
After the acquisition, Glencore will hold an 82% stake in the Hail Creek Coal Mine and a 71.2% interest in the Valeria coal project. The assets, both located in the Bowen Basin in Queensland, are valued at US$1.7bn, KWM said.
Partner Nicholas Pappas led the KWM team. Partners Tim Sherman and Katrina Parkyn worked on tax matters, while partner Wayne Leach and Malcolm Brennan provided expert advice on competition and FIRB matters, respectively.
The KWM team also included senior associates James Darch, Victoria Lanyon, Rob McEvoy, and Marissa Todkill; solicitors Will Mason and Lara Moreton; and law graduate Ingrid Wright.
“We were very pleased to assist Glencore reach agreement to acquire two significant assets that will contribute to the growth of their Australian coal business. This deal demanded a holistic team that could advise across a diverse range of legal aspects,” Pappas said.
Glencore is a long-standing client of KWM. The global law firm also advised the Anglo-Swiss commodities trading and mining giant on its Evolution Mining Agreement and its $1.4bn sale of its Glencore Rail business to Genesee & Wyoming.
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