Allens advises IMDEX on financing for Devico acquisition

Allens has advised West Australian headquartered mining technology company IMDEX on new and existing debt financing to support the $332 million acquisition of Norwegian-based mining technology company Devico.

Devico is a leading provider of advanced sensors and directional drilling technologies. The acquisition expands IMDEX’s technology capability and geographical reach, and reinforces its position as a leading global mining technology provider.

‘We are pleased to have supported IMDEX with the cross border financing arrangements for this significant transaction,’ said partner Ben Farnsworth.

‘There is increasing demand for sustainable and efficient mining practices and IMDEX’s acquisition of Devico positions the company to continue leading in this space.’

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