16 March 2005

Cliffe Dekker - legal advisers on the DealMakers “Deal of the Year”, for the second year running

Cliffe Dekker is proud to have been the legal advisers to Lonmin in the deal between Lonmin and Impala Platinum, which formed the R3, 9bn empowerment mining house Incwala Resources, and was named “Deal of the Year” in DealMakers’ 2004 annual mergers and acquisitions (M&A) rankings announced on 9 March 2005. It was undoubtedly the most complex transaction to take place in South Africa in 2004.

The transaction with Lonmin, Imapala Platinum (Implats), the Industrial Development Corporate (IDC) and broad-based empowerment parties as primary equity investors, has created a major new majority black-owned mining house. Lonmin was the driving force behind the transaction, which involved eight SA law firms and a UK law firm. Cliffe Dekker co coordinated the entire transaction involving 93 separate agreements and security documents, drafted a large number of those documents, and commented and advised on all the rest.

In last year’s M&A rankings, Cliffe Dekker was the legal advisor to Harmony Gold in the Harmony / ARM / Avmin transaction, which was named “Deal of the Year” by DealMakers and BEE Deal of the Year in the BusinessMap Foundation Empowerment Awards. That transaction led to the creation of South Africa’s largest diversified empowered mineral resources company.

The stature and complexity of both transactions is significant for Cliffe Dekker,” says the firm’s chairman Chris Ewing. “It confirms that our clients and the business community in general, recognise the firm’s BEE and M&A capabilities. Our focus is always on providing business solutions that contribute to the success of our clients".

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