GFG Alliance’s A$100 Million Investment In Havilah Resources Limited

Ashurst has advised GFG Alliance on A$100 million strategic investment in Havilah Resources Limited.

The proposed share subscription will fully fund Havilah’s work programs for its iron ore assets and copper prospects in the Mutooroo Copper-Cobalt District in South Australia’s northeast.

The funding will be provided by a series of equity placements in Havilah at a premium up to 35%, over an expected period of three years, potentially providing GFG Alliance with a 51% stake in Havilah if all equity placements are made. The subscription are subject to Havilah shareholder approval.

The transaction establishes a strategic alliance between GFG and Havilah, with GFG having the capacity to support and facilitate the future growth of Havilah through access to global capital markets, capital investment, technical assistance and commercial offtake agreements.

The Ashurst team was led by partner and head of corporate Elspeth Arnold (Picture), with support from partner Lynda Tully, counsel Eliza Blandford and associates Stephanie Mattei, Alex Kedzior and Mariana Estifo. Partner Martin Coleman and senior associate John Renda advised on banking aspects and partner Ross McClymont advised on restructuring aspects. Tax advice was provided by partner Geoff Mann and senior associate Kristina Popova.

Involved fees earner: Elspeth Arnold – Ashurst; Eliza Blandford – Ashurst; Martin Coleman – Ashurst; Mariana Estifo – Ashurst; Alex Kedzior – Ashurst; Geoff Mann – Ashurst; Stephanie Mattei – Ashurst; Ross McClymont – Ashurst; Kristina Popova – Ashurst; John Renda – Ashurst; Lynda Tully – Ashurst;

Law Firms: Ashurst;

Clients: GFG Alliance;


Author: Michael Patrini