06/09/2011 - 14:10

Standard Chartered buys out Gryphon Partners

06/09/2011 - 14:10

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Standard Chartered buys out Gryphon Partners

UK-based bank Standard Chartered has acquired 100 per cent of Adelaide-based Gryphon Partners Advisory, which has advised a host of Western Australia based resources firms fielding takeover offers over the past 12 months.

Standard Chartered said it would purchase Gryphon and its Canada-based counterpart Gryphon Partners Canada for an undisclosed sum.

Gryphon has had an increased presence in Western Australia in recent years, and advised iron ore junior FerrAus as it received takeover offers from Hong Kong’s Wah Nam International and Atlas Iron.

Gryphon also advised Exco Resources regarding the $175 million ale of its Cloncurry copper project to Xstrata, and provided advice for Crescent Gold regarding Focus Minerals’ $69 million takeover bid.

Standard Chartered group executive director Mike Rees said the acquisition would significantly strengthen the company’s capabilities in mining and metals.

“Together with Gryphon Partners we will now be able to provide our core footprint clients with high quality advice on opportunities in all our key markets relevant to the mining and metals sector,” Mr Rees said.

Gryphon Partners executive director Creagh O’Connor and Rob Greenslade said they looked forward to becoming part of Standard Chartered.

“The partnership will complement our respective strengths and generate significant business growth,” Mr O’Connor said.

 

 

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