Glencore on a significant number of their most complex transactions, including:
in its capacity as a major shareholder of Volcan Compañía Minera on its joint venture with Cosco Shipping Ports
the $1.1bn acquisition of a 31% stake in Mutanda and 10.25% stake in Katanga from Fleurette Properties
on its US$10bn debt reduction measures, including US$2.5bn new equity capital raise and its strategic disposals including the US$3bn sale of a 49.99% interest in its agricultural business
the US$15.25bn RCF refinancing
the US$10bn acquisition of a stake in Rosneft
US$2.2bn convertible bond issue, subsequent IPO and listing on the LSE and HKSE, followed by its secondary listing on the JSEUS$70bn (Equity Deal of the Year: IFLR Awards)
the all-share merger of equals with Xstrata (M&A Deal of the Year: Financial Times and MergerMarket M&A Awards)
the US$7bn disposal of the Las Bambas copper mine in Peru to a Chinese consortium (Global M&A Deal of the Year: Latin America/Peru - Infrastructure Journal)
Rio Tinto on a number of transformational deals including:
in its defence of the £97bn hostile takeover offer by BHP Billiton (the largest ever announced M&A transaction), which was of unprecedented complexity owing to both companies being dual listed, and involved numerous potential conflicts of legal regimes
its US$40bn acquisition of Alcan and the divestment of its Alcan Engineered Products division
Anglo American on a number of deals including:
the acquisition of a majority stake in De Beers
the demerger of Mondi
the sale of Tarmac Middle East
the sale of its Niobium and Phosphates businesses
London listings: advising the company on IPOs for Prairie Mining, Polyus Gold, Glencore, Evraz, Fresnillo, Gem Diamonds, Nikanor, Hochschild Mining, Kazakhmys, Vedanta, Xstrata, Anglo and (the banks) on IPOs for:Vallar, Konkola resources, Barrick Gold and Billiton.
the lenders: advising on Vale’s US$5bn Nacala Corridor rail and port project in Malawi and Mozambique to transport coal from its mines to overseas markets (Outstanding Deal of the Year: Nacala Corridor, Trade Finance Awards), on the US$750m development and financing of the EuroChem Usolsky potash mine in Russia - the first project financing of a mine in Russia. (European Mining Deal of the Year: Infrastructure Journal) and on the project financing of the Thar Block II 3.8Mt/a coal mine and 2X330MW pit mouth coal-fired power project in Pakistan (Deal of the Year: Development of the Thar Block II coal mine in Pakistan.
the lenders: to a variety of mining, metals and metal trading companies including Ferrexpo, Nord Gold, Zamin, DTEK, African Minerals, Essar Steel, Stemcor, Arcelor Mittal, Reliance Industries and Tata Corus on a variety of financing structures, including corporate finance, pre-export finance, borrowing base financings, ECA-backed financings and other structured financings.
a number of international mining companies: advising on a global compliance review including assessment of its key operations’ compliance with ABC laws and with safety, environmental and social regulations.
Recent work highlights
A small selection of our recent work
Kaz Minerals: in relation to the recommended cash offer by a consortium of its two largest shareholders, in a deal that values Kaz Minerals at £3bn.
Endeavour Mining: advising in connection with its announced acquisition of Semafo and separately on their acquisition of Teranga.Gold. The transaction will create the largest gold miner in West Africa and a top 15 gold producer globally.
Glencore: advising on the sale of its subsidiary’s Carlisa Investment Corps.’s 90% interest in Mopani Copper Mines to ZCCM Investment Holdings.
Jingye Group: advising on the £1.2bn acquisition of British Steel’s United Kingdom and Dutch assets.
Sibanye Stillwater: advising on its recommended all-share offer for Lonmin.
Rio Tinto: advising on the successful completion of the divestment of its 68.6% stake in Rössing Uranium to China National Uranium Corporation.
BHP: advising on the sale of its upstream Algerian oil and gas assets located in the Ghadames Basin to ENI
MMG: a subsidiary of China Minmetals on its conditional sale of MMG's 90% interest in the Sepon mine in Laos PDR to Chifeng Jilong Gold Mining.
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