LONDON (19 October 2006) - The law firm of McDermott Will & Emery worked alongside Freehills in advising joint client Orica Limited on their acquisition of a UK-based mining services company, Minova, from Close Brothers for a purchase price of £343 million (A$857 million). Orica is a leading manufacturer and supplier of mining-related products and services, paints, surface coatings, industrial and specialty chemicals. Minova provides specialist chemical products for underground mining and civil engineering activities.
The McDermott team had responsibility for the provision of legal advice on the UK and U.S. corporate, employee benefits, tax and competition aspects of the transaction. The acquisition, which is subject to regulatory approval, is expected to complete before the end of the calendar year for 2006, and will be funded through a combination of cash and drawdown of existing debt facilities.
The multi-disciplinary McDermott team was led by partner Michael McFall. He was assisted by corporate associate Mei-Li Da Silva Vint, employee benefits professional advisor Dan Senecoff, tax partner James Riedy and intellectual property associate Rohan Massey.
The Freehills team was led by corporate partner Neil Pathak and included competition partner Bob Baxt, banking and financial services partner Dan Brealey, and associates Matt Bull, John Christianakis, Sheena Loi, Ben MacDonald and Richard Wilkinson.