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Australia: $2.7 billion mining merger creates metals and gold giant

By  |  May 25, 2015

Independence Group has turned to UBS for advice on its proposed $2.7 billion merger with Mark Creasy’s Sirius Resources, which was advised by Perth-based Hartleys.

The deal, which was first foreshadowed by Street Talk, involves two inter-conditional schemes of arrangement, while Sirius will spin off its Polar Bear and Scandinavian exploration assets via a demerger scheme of arrangement.

The structure will allow Sirius shareholders to retain full exposure to the assets in a newly listed vehicle called S2 Resources.

 

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