Herbert Smith Freehills advises Newcrest on its A$25 billion acquisition by Newmont Corporation

Herbert Smith Freehills (HSF) is pleased to have guided Newcrest Mining Limited through the complex process to secure shareholder and regulatory approval for the A$25 billion acquisition of Newcrest by Newmont Corporation, under a scheme of arrangement.

The transaction closed on 6 November 2023 with the transfer of all shares to Newmont in exchange for the issue of Newmont shares in the form of CDIs on the ASX, PDIs on the PNGX and shares on the NYSE.

It is the largest M&A transaction in the Australian market for 2023 and one of the largest ever in this market.

The HSF team was led by M&A partners Rodd Levy and Kam Jamshidi, with support from a wide range of lawyers, including Kurt Fisher, Simon Walker, Nancy Darmanin and Zoe Leyland on corporate aspects. Further support was delivered by the HOAT team including Priscilla Bryans and Amy Henderson, the competition group of Sarah Benbow and Jared Peut, tax was covered by Toby Eggleston, court related aspects by Ruth Overington and Sam Bytheway and additional due diligence by Neena Aynsley and Emily Reyher.

Lead partner Rodd Levy said, "The combination of Newcrest and Newmont will create the world’s leading and largest gold company. We are proud to have been involved in its creation".

Newmont was advised by KWM.