Our corporate team worked alongside leading South African law firm Werksmans in connection with the R1.27 billion acquisition of the mining division of Murray & Roberts Limited (in business rescue) by a consortium of investors led by Differential Capital Proprietary Limited, a South Africa-based asset management firm.
The transaction involved the transfer of subsidiaries across South Africa, Canada, Australia, Portugal and Chile to a newly incorporated UK company established by the investor consortium. Importantly, the deal preserves approximately 2,600 jobs and safeguards critical mining capabilities across a number of jurisdictions.
Given the cross-border nature of the transaction, we worked closely with Werksmans to help deliver a successful outcome within a complex restructuring environment.
The Fladgate team was led by Andrew Titmas, supported by Mike Lanning, Luke Morris and Carla Nocerino.
Lead Partner Andrew Titmas commented:
“It was a real pleasure to work alongside the Werksmans team on this significant corporate restructuring. The transaction was challenging and involved multiple jurisdictions, but it enabled Fladgate to demonstrate its ability to deliver complex cross-border transactions successfully while collaborating closely with leading overseas law firms.”
Head of Special Situations Fund Mark Salmon of Differential Capital commented:
“The Fladgate team have been outstanding in helping us get over the line on an extraordinarily complex deal.”
The Werksmans team commented:
“The Fladgate teams’ ability and willingness to meet urgent deadlines and attend very last-minute calls, all whilst delivering superb work, has not gone unnoticed. We thank them for ensuring that the UK leg of this transaction ran as smoothly as possible during the closing process. To the next one!”
