Clayton Utz is acting as Australian counsel to ASX/HKEx listed Wah Nam International Holdings Limited in respect of its off-market takeover bid, through its subsidiary, Wah Nam International Australia Pty Ltd, for the remaining ordinary shares in ASX listed Brockman Resources Limited that it does not already own. Wah Nam Australia currently owns 55.33% of Brockman shares. The offer, announced to the market today, values Brockman at approximately A$456 million.
The bid is subject to a number of conditions including approval from the Australian Foreign Investment Review Board and approval of Wah Nam International shareholders. The announcement follows an earlier bid made by Wah Nam for Brockman in late 2010.
Clayton Utz Perth Corporate partner Mark Paganin is leading the firm’s team advising Wah Nam, which includes special counsel, Glenda Currie and senior associate, Stephen Neale.
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