Stamford Law is advising Contel Corporation on its plans for a reverse takeover (RTO) of Solar Silicon Resources Group, a unit of AuzMinerals Resource Group. In this deal, Contel will buy over all 95 million shares of Solar for a total of US$1.2 billion.
This amount will be paid for through the issue of 3.09 billion consolidated new Contel shares at S$0.505 each. AuzMinerals will own 79% of Contel when the acquisition is completed.
This will be the largest RTO deal that the SGX has seen in at least five years, and will result in the listing of a Singapore-incorporated mining and resources company on the Singapore Exchange (SGX).
Stamford Law Director Yap Lian Seng leads the team.
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