Gilbert + Tobin advised Deep Yellow Limited (Deep Yellow) on the $658 million merger with Vimy Resources Limited (Vimy) by a Scheme of Arrangement, under which Deep Yellow will acquire 100% of the Vimy shares on issue.
Deep Yellow is an advanced uranium exploration company in pre-development founded in 1985 with a focus on Namibia. Its Tumas Project in Namibia is currently the subject of a Definitive Feasibility Study which is scheduled to be completed later this year.
Vimy’s flagship project is the Mulga Rock Project, one of Australia's largest undeveloped uranium resources, which is located 290km out of Kalgoorlie in the Great Victoria Desert of Western Australia.
The merger creates a new multi-project, global uranium company combining two advanced uranium projects with a combined 389Mlbs Resource base, one of the largest in the world, differentiating itself with a geographically diversified asset base.
Energy and Resources Partner, Michael Blakiston led the matter with Corporate Advisory partner, Sarah Turner. Michael Blakiston said “we were thrilled to have advised on this momentous transaction marking the largest domestic uranium deal in a decade and a transaction which endorses Deep Yellow’s strategy of becoming an industry consolidator.”
Corporate Advisory lawyers, Ada Lam and Janelle Sputore advised on the merger, with advice also provided by Energy and Resources Special Counsel, Jennifer Hart and lawyers, Giorgia Fraser, Anneka Thomson and Shay Kiriakidis.