Corrs Advises Elemental Minerals on Cross Border Takeover Offer

SYDNEY, WASHINGTON, HONG KONG and OTTAWA, July 19, 2013 /PRNewswire/ --

- Corrs Chambers Westgarth is acting as the lead legal adviser to Elemental Minerals in respect of a takeover offer made by Dingyi Group Investment, a Hong Kong Stock Exchange listed investment company.

Elemental Minerals, an Australian company listed on both ASX and TSX owning potash assets located in the Republic of Congo, has announced a takeover bid made by Dingyi Group Investment for all of its outstanding shares.

Dingyi is an investment company incorporated in Bermuda, listed on the Hong Kong Stock Exchange and controlled by Mr Li Kwong Yuk, a Chinese entrepreneur.

The takeover offer price of A$0.66 per share values Elemental Minerals at approximately A$190 million and was at a premium of 126% to the average share trading price prior to the first announcement of receipt of Dingyi's proposal.

Christian Owen, Corrs' lead partner on the transaction said, "We are pleased to continue our association with Elemental Minerals and assist its Board and management team in progressing this important transaction. Our key role has been to utilise our cross border M&A expertise to assist Elemental in managing the complexities that a multijurisdictional transaction of this nature inevitably brings. We are proud to have assisted Elemental in securing this attractive opportunity for its shareholders to consider in what is best described as trying market conditions."

The transaction also involves an interim funding package to be provided by Dingyi (comprising a placement and convertible note facility) to ensure Elemental has access to necessary working capital during the offer period.

Corrs involvement in the transaction is further evidence of why it has a top tier ranking amongst global competitors in the cross border M&A market having recently been ranked one of Australasia's top five deal-making law firms in 2013 by Thomson Reuters in the M&A League Tables.

The Corrs team advising on the deal was led by corporate partners Christian Owen and Russell Philip, banking and finance partner Phil Wilson and corporate advisory team members senior associate Nick Herbert and associate Oliver Carrick.

Corrs has partnered with Stikeman Elliott LLP and Deacons to deliver a seamless cross border legal service.

ENDS.

For more information please contact:

Kate Piper
Communications Adviser
Corrs Chambers Westgarth
Phone: +61-2-9210-6854
Email: [email protected]

Natasha Stevenson
Senior Manager - External Communications
Corrs Chambers Westgarth
Phone: +61-7-3228-9307
Email: [email protected]

SOURCE Corrs Chambers Westgarth