Corrs Chambers Westgarth and Mallesons have advised on a merger between Vault Minerals and Regis Resources to establish a new Australian Securities Exchange (ASX)-listed gold company with a pro forma market capitalisation of around AUD10.7 billion (USD7.7 billion).
Corporate partner Russell Philip led the Corrs Chambers Westgarth team in advising Vault Minerals.
“Aside from matters relating to the Australian Securities and Investments Commission and the Australian Securities Exchange (ASX) in connection with a change of control transaction, the Corrs competition team advised on the Australian merger clearance requirements in relation to the proposed transaction,” Philip told Asia Business Law Journal.
Mallesons, spearheaded by Perth M&A corporate team head Nigel Hunt, counselled Regis Resources.
“As noted in the scheme implementation deed, Regis has considered the new Australian Competition and Consumer Commission (ACCC) mandatory merger regime clearance, which is one of the conditions precedent for the transaction, and has undertaken due diligence across the full range of regulatory matters relating to Vault and its operations,” Hunt told ABLJ.
Under the agreement, Regis will acquire 100% of the fully paid ordinary shares in Vault. In exchange, Vault shareholders will receive 0.6947 new fully paid ordinary shares in Regis for each Vault share held.
The combined company would have high-quality assets across five Western Australian operating hubs with annual production exceeding 700,000 ounces from a combined mineral resource base of approximately 20.5 million ounces, as well as a strong balance sheet and a compelling organic growth pipeline, said Philip.
The transaction is subject to approvals from the board, Vault shareholders, the court and regulatory matters as well as ACCC clearance. Completion is expected between 1 August and 30 September 2026.
Source: https://law.asia/vault-regis-gold-merger/