G+T has advised DPM Metals Inc. (TSX/ASX: DPM) on Australian law aspects of its circa $1.9 billion acquisition of all of the shares in ASX-listed Adriatic Metals Plc (Adriatic) by way of a UK scheme of arrangement, in exchange for a mix of scrip and cash. As part of the transaction, DPM was admitted to the official list of the ASX as a foreign exempt listing.
DPM is an international Canadian-based precious metals mining company listed on the TSX and now the ASX, with a strong operational presence in the Balkans, and a strong organic growth pipeline. DPM’s acquisition of Adriatic adds the world-class Vareš silver-lead-zinc-gold project in Bosnia and Herzegovina to DPM’s diversified mining portfolio, which already includes advanced operations in Bulgaria, Serbia and Ecuador.
Under the scheme, DPM acquired 100% of Adriatic’s shares and issued approximately $1.5 billion of CDIs to former Adriatic CDI holders as part consideration. The transaction marks one of the most significant and high value listings of a foreign corporation on the ASX this year.
Corporate Advisory Partner Justin Mannolini said:
We congratulate DPM on its acquisition of Adriatic and its associated ASX foreign exempt listing. The acquisition offers development synergies for high-margin production in an emerging mining jurisdiction. The wider transaction highlights the team’s cross-border capability in navigating complex legal and regulatory environments.
G+T advised DPM as legal counsel on Australian law aspects of the acquisition and ASX listing. The G+T team was led by Justin Mannolini, with support from Callum Fleming, Cassandra Lee and Joshua Cohenca.
DPM was also advised by Cassels Brock & Blackwell LLP (Canada) and Bryan Cave Leighton Paisner LLP (UK) on Canadian and UK legal aspects of the acquisition respectively.
