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HFW advises on public takeover of Asia Resource Minerals

16 June 2015

The Singapore and London offices of Holman Fenwick Willan are advising both Argyle Street Management Limited and its bid vehicle, Asia Coal Energy Ventures (ACE) on its proposed all cash offer of London listed Asia Resource Minerals (LON: ARMS). The widely reported transaction is an all cash offer for ARMS at 56p per share that values the company at more than $200m. The board of ARMS has recommended the ACE offer.

Brian Gordon, Holman Fenwick Willan corporate Partner, says: “We are very pleased to be working with both Argyle Street Management and ACE on the transaction. The deal, which is yet to close, has involved considerable interaction with the UK Takeover Panel and a number of interested parties. Investor appetite for the Indonesian coal sector is currently strong, and with some Indonesian miners posting an impressive return on equity exceeding 20% it is clear to see why. Nonetheless, the requirements of bodies like the UK Takeover Panel must be adhered to in order to capitalise on this commercial benefit – we are pleased that we have been able to support ACE and Argyle Street Management in this regard.”

ACE’s director, Kin Chan says, “HFW exhibits the highest professionalism and technical knowledge of both UK Takeover process and complex Asian debt restructuring. Beyond that, the HFW team demonstrates an extraordinary level of dedication to the assignment and its client.”

The HFW team is led by Partners, Brian Gordon, James Lewis, Nick Hutton and Jayson Marks.

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Nick Hutton