Strand Hanson acted as financial adviser to Metals Exploration plc (“Metals Exploration”), the gold production, exploration, and development company with assets in the Philippines, on its successful recommended offer for the entire issued and to be issued ordinary share capital of Condor Gold Plc (“Condor”), the gold exploration and development company with assets in Nicaragua, under the UK Takeover Code. The acquisition of Condor is for a total consideration of up to £90.1m, comprising £20.2m cash, £47.3m in new ordinary Metals Exploration shares and up to £22.6m via Contingent Value Rights, which will be settled upon certain milestones being achieved in the development of Condor’s flagship La India project.
The Fasken team was led by Guy Winter in the Fasken London office.
Jurisdiction
- England and Wales
