Firm: Baker McKenzie (CITIC Metal)
Deal: Baker McKenzie has advised CITIC Metal on its acquisition of an additional 10 per cent of its stake in Ivanhoe Mines.
Value: CAD$612 million.
Key players: The multidisciplinary team was led by M&A Beijing partner Bee Chun Boo, Toronto partner Greg McNab and was composed of lawyers from Beijing, Toronto and Johannesburg, Singapore and Kuala Lumpur.
Deal significance: The transaction marks the second CITIC Metal’s investment in the Ivanhoe Mines and will see its stake rise to 29 per cent. The investment will enable Ivanhoe to move ahead with the construction of its USD$1.1 billion Kamoa-Kakula Project’s initial six million-tonne-per-annum, high-grade copper mine in the Democratic Republic of Congo.
The team acted as lead counsel of the transaction, with primary responsibility around preparing and negotiation transaction agreements, advising on legal and regulatory issues, and general transaction management.
Commenting on the deal, Ms Chun said: “We are pleased to bring this strategic transaction to fruition for our client. This is the fourth successful major mining transaction on which we acted for CITIC Metal.”
“We could not be more honoured than to have been able to partner with our client all these years and assist them in navigating the complex legal and business issues that arise in cross-border investments. We look forward to continue supporting our client as they continue to grow their international presence.”