JWS advises Perenti on its proposed acquisition of DDH1

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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.

Important Disclaimer: The material contained in this article is comment of a general nature only and is not and nor is it intended to be advice on any specific professional matter. In that the effectiveness or accuracy of any professional advice depends upon the particular circumstances of each case, neither the firm nor any individual author accepts any responsibility whatsoever for any acts or omissions resulting from reliance upon the content of any articles. Before acting on the basis of any material contained in this publication, we recommend that you consult your professional adviser. Liability limited by a scheme approved under Professional Standards Legislation (Australia-wide except in Tasmania).