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Ogier has advised a leading mineral firm with one of the world’s largest deposits of natural rutile on a recommended £215 million takeover offer by from Iluka Resources Limited.
Sierra Rutile has been operating in Sierra Leone for around 50 years. The firm operates several mines in the country and its core product is natural rutile, a titanium feedstock used to manufacture white pigment for paint, paper and plastics.
Ogier group partner Simon Dinning (Global Head of Corporate and Commercial) and senior associate, Wendy Walker, advised Sierra Rutile on the BVI law aspects of the proposed takeover.
Mr Dinning said: “We have been fortunate enough to advise Sierra Rutile for a number of years and were delighted to have worked on this significant transaction. We were also pleased to continue our strong relationship with Herbert Smith Freehills, English advisers to the company.”
Iluka is an Australian-listed mineral sands company with developments at various stages in Australia, the US, Sri Lanka and Brazil.
Iluka’s recommended offer values Sierra Rutile shares at 36 pence, and the company at £215 million.
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