Cleary Gottlieb, Herbert Smith Freehills, Slaughter and May and ENSafrica are advising on a proposed demerger by BHP Billiton of several noncore assets into a new global metals and mining company, effectively unwinding part of the 2001 megadeal that created the Anglo-Australian minerals and mining giant.
August 20, 2014 at 06:27 PM
1 minute read
The megamerger between London-based Billiton and Melbourne-based BHP announced with much fanfare in March 2001 will soon be no more.
The combined company, which kept both headquarters and remained dual-listed in the United Kingdom and Australia despite having a common board of directors, announced this week that it would spin off several second-tier assets into an independent global metals and mining company tentatively dubbed NewCo and valued at $14 billion.
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