DLA Piper advises Technology Metals on its AUD217 million merger with Australian Vanadium

Global law firm DLA Piper is advising Technology Metals Limited (ASX:TMT) on its all-scrip merger with Australian Vanadium Limited (ASX:AVL) via scheme of arrangement, under which AVL will acquire 100% of the TMT shares to create the largest ASX-listed pure-play vanadium company valued at AUD217 million.

“The merger creates a leading ASX listed vanadium developer with a world-class asset of scale, located in a Tier-1 mining jurisdiction” said Perth-based James Nicholls, Corporate Partner, DLA Piper.

TMT is the owner of the Murchison Technology Metals Project and AVL is the owner of the neighbouring Australian Vanadium Project. Upon implementation of the scheme, the Merger will combine to form a merged group that consolidates the companies two adjoining projects across one contiguous orebody. The merger creates a leading Australian vanadium developer and provides maximum flexibility to realise the full value of operational and corporate synergies expected to arise from combining the same orebody into a single, integrated operation.

“Moreover, with the backdrop of the Australian Critical Minerals Strategy aiming to support domestic vanadium production, enhance supply chain resilience, and foster innovation in downstream industries, the merged group’s optimisation of the continuous orebody recognises the strategic importance of vanadium globally.” James added.

DLA Piper's team was led by James Nicholls (Partner) with assistance from Kirsty Hall (Senior Associate), Emily Donley (Solicitor) and Alexis Brenssell (Graduate). Due diligence assistance was provided by, from the Projects team, Nick Sceales (Special Counsel) and Claudia Cardaci (Solicitor), from the real estate team, Eagul Faigen (Partner) and Kitty Chen (Solicitor), and, from the employment team, Clancy King (Partner) and Mitch Robertson (Special Counsel). Tax advice was provided by Eddie Ahn (Partner).

DLA Piper has been a long standing adviser to TMT, with the relationship managed by Alex Jones (Partner and Global Co-Chair of the Energy & Natural Resources Sector) and Matt Roberts (Senior Associate).

For the 13th consecutive year, DLA Piper was the highest-ranked legal advisor in the world for M&A deal volume, according to Mergermarket's league tables. The firm was involved in 1,131 transactions worldwide in 2022.