Leading independent law firm, Johnson Winter Slattery, is advising longstanding client Perenti Limited (ASX: PRN) on its proposed acquisition of surface and underground drilling company DDH1 Limited (ASX: DDH1) by way of scheme of arrangement.
Once implemented, the transaction will create the ASX’s leading diversified contract mining services company, with a pro-forma market capitalisation of approximately A$1.3 billion.
JWS is advising Perenti on all legal aspects of the transaction, including its negotiation of a Call Option Deed with DDH1’s largest shareholder, Oaktree, covering 19.99% of the shares in DDH1.
The transaction is being led by corporate partner Paul Vinci, with a core deal team including partner Justin Harris, special counsel Scott Cummins and senior associate Shang-Wen Chien.
Paul said, “We are proud to act for Perenti on another transformational deal, following on from the successful combination of Ausdrill and Barminco in 2018. The DDH1 transaction is strategically compelling and will further enhance Perenti’s position as a global leader in its fields of expertise.”
This deal is the latest in a string of substantial public M&A deals for JWS in recent months, including Potentia Capital’s successful contested $530 million takeover bid for Nitro Software, Potential Capital’s bid for Tyro, and Accel-KKR-owned Humanforce’s successful bid for IntelliHR.
About Johnson Winter Slattery
Johnson Winter Slattery is a leading independent Australian law firm with over 80 partners and 6 offices across Australia. We advise major corporates, funds and governments on their most challenging transactions and disputes.