Under the deal, Adbri has an implied equity value of $2.1bn
Gilbert + Tobin (G+T) has helped CRH Plc (CRH) to acquire a majority stake in Adbri Ltd (Adbri) via a scheme of arrangement.
The deal gives Adbri an implied equity value of $2.1bn. CRH teamed up with current major shareholder the Barro family, who keeps their shares.
As a longstanding Australian building products and construction materials group, Adbri is expected to “complement CRH’s core competencies in cement, concrete, and aggregates”, G+T said. At the same time, the acquisition generates more growth and development opportunities for CRH's Australian business.
G+T’s team advised on all aspects of the transaction. Corporate advisory partner Karen Evans-Cullen took the lead alongside partner Wes Bainbridge and lawyers Mitch Frankland and Jasmine Haddad. They collaborated with Hiroshi Narushima, Louise Klamka, Philippa Hofbrucker, Alexandra Whitby and Jess McGuirk.
West African capital raise
G+T also guided ASX lister West African Resources Limited on its placement, which came to about $150m.
The placement will be applied to development activities at the Kiaka Gold Project. The funds will mainly be allocated towards buying an owner mining fleet, launch owner mining workshop facilities, and acquire exploration drill rigs, using mining pre-production capital at the Kiaka Gold Project.
Corporate advisory partner Sarah Turner headed up the team working on the transaction. She received support from lawyers Janelle Sputore, Sarah Urquhart and Adam Sibum.
Mid-tier gold producer West African Resources concentrates on developing the Sandbrado Gold Mine, Kiaka Gold Project and Toega Gold Deposit in Burkina Faso.
