White & Case Advises on Sale of 50% Shareholding in Central African Gold plc

London, August 6, 2010 ... Global law firm White & Case LLP has advised private equity group Emerging Capital Partners on the sale of its 50% stake in the AIM-listed company Central African Gold plc.

Emerging Capital Partners' ECP Africa Fund II, along with two further shareholders HBD Zim Investments Limited and Investec Asset Management (Pty) Limited sold their shareholdings, together representing approximately 88.7 per cent of Central African Gold, to NDM (UK) Ltd (a subsidiary of New Dawn Mining Corp) in a deal closing on 16 June 2010.

Central African Gold is an AIM-listed company with a portfolio of production and exploration assets in Africa, including Zimbabwe and Botswana.

"This deal demonstrates the continuing attractiveness of commodities companies, which have been dominating M&A in recent months," said White & Case London partner Greg Stonefield. "Gold companies in particular remain vibrant as gold prices rise as investors look to 'safe haven' investments."

Consideration for the sale of the shares was in the form of new shares and warrants issued in New Dawn Mining Corp, which is listed on the Toronto Stock Exchange.

White & Case has been active on the African continent for more than 30 years. The Firm was the first foreign law firm to open in South Africa, with the Johannesburg office launched in 1995. Recent African deals include the Johannesburg Stock Exchange IPO of Life Healthcare Group Holdings, which raised R5.25 billion (US$680 million) giving the company a market capitalisation of approximately R14.4 billion (US$1.85 billion).

White & Case London partner Greg Stonefield led on the Central African Gold transaction, assisted by Elizabeth Palmer and Christian Blank.

About White & Case
White & Case LLP is a leading global law firm with lawyers in 36 offices in 25 countries. Among the first US-based law firms to establish a truly global presence, we provide counsel and representation in virtually every area of law that affects cross-border business. Our clients value both the breadth of our global network and depth of our US, English and local law capabilities in each of our regions and rely on us for their complex cross-border transactions, arbitration and litigation provided by our global practices.

Contact:
Ian Kitts
EMEA Media Relations & Corporate Communications Manager
+44 20 7532 2857
 

Charlotte McCubbin
Media Relations Executive
+44 20 7532 2848