Johnson Winter Slattery and Allens Advise on Major Australian Coal Takeover

Australian law firms Johnson Winter Slattery and Allens have been named in connection with New Hope Corporation's proposed acquisition of Malabar Resources, in a major transaction involving one of the country's leading coal producers.

New Hope has agreed to acquire the remaining shares in Malabar Resources that it does not already own through an all-scrip scheme of arrangement.

The transaction values Malabar's equity at approximately $1.8 billion, with an implied enterprise value of approximately $2.4 billion.

Johnson Winter Slattery is advising New Hope on the Australian legal aspects of the acquisition, with corporate partner Damian Reichel leading the team.

The transaction draws on expertise across corporate, energy and natural resources, competition, and environment and planning.

New Hope already holds an interest of approximately 26% in Malabar, which owns the Maxwell Underground Mine in New South Wales' Upper Hunter region.

If completed, the acquisition would strengthen New Hope's position in Australia's coal sector, creating a combined business with an estimated market capitalisation of $6.3 billion and a pathway towards approximately 19 million tonnes of annual saleable coal production.

The proposed acquisition remains subject to shareholder and court approvals.

LawUno Insight

The transaction highlights the continuing significance of large-scale resources M&A in Australia's legal market.

For corporate lawyers, it also demonstrates how major acquisitions increasingly require expertise beyond traditional transaction execution, including competition regulation, environmental approvals and sector-specific commercial considerations.

As consolidation continues across Australia's resources sector, will demand for specialist M&A, competition and energy lawyers increase?