Corrs advises Zashvin on A$1.6 billion purchase of Anglo American’s interest in Jellinbah

Zashvin, an existing 33.3% shareholder in Jellinbah alongside Anglo American and Marubeni, will acquire Anglo American’s 33.3% interest in the Jellinbah joint venture for A$1.6 billion. Jellinbah owns a 70% interest in the Jellinbah East and Lake Vermont steelmaking coal mines. The transaction represents the first announced sale by Anglo American from its portfolio of steelmaking coal mine assets in Australia.

Zashvin will be the majority shareholder in Jellinbah upon completion of the transaction, which is subject to customary regulatory approvals.

Led by transaction partner Alexandra Feros and Zashvin relationship partner Joshua Paffey, and supported by partners James Morley, Franka Cheung, Cameron Blackwood, Jennee Chan, Anna White and Ian Reynolds, Corrs advised on all aspects of the transaction with an integrated team spanning the firm’s corporate, energy and resources, tax, environment and regulatory practices.

Commenting on the matter, lead transaction partner Alexandra Feros said: “This transaction demonstrates the market appetite for continued investment in quality steelmaking coal mines over the long-term. It also illustrates Corrs’ ability to advise seamlessly on large-scale deals and highlights our collaborative approach to leveraging expertise across a range of practice areas.”

Zashvin relationship partner Joshua Paffey added: “Zashvin has been with Jellinbah since its inception. We are delighted to advise them in the expansion of their role in the venture to become a majority shareholder.”

James Xu of Zashvin commented: “Our increased investment in Jellinbah not only reflects our confidence in Queensland’s coal industry but also our commitment to supporting the central Queensland community. We appreciate the support we received from Corrs in making this a smooth and efficient transaction.”