Debevoise & Plimpton has advised Japanese trading company Mitsui & Co. Ltd. on a $6.75 billion loan to Corporación Nacional del Cobre de Chile (Codelco). The Santiago-based copper giant will use the loan to finance its acquisition of 49 percent of the Chilean business of U.K.-based mining company Anglo American PLC. New York partner Maurizio Levi-Minzi led Debevoise’s team advising Mitsui, which may later receive up to half of Codelco’s stake in Anglo American in consideration for the loan. Morales & Besa and Bofill Mir & Álvarez Jana Abogados provided Chilean counsel. Codelco turned to Cleary Gottlieb Steen & Hamilton‘s Jeffrey Lewis and Duane McLaughlin in New York, and Carey y Cía in Santiago. [Read full story]
Singapore
U.S. insurer Prudential Financial, Inc.’s property management arm, Pramerica Real Estate Investors, has restructured three closed-ended funds in Singapore and Malaysia, worth $2.4 billion. The funds, which own 11 shopping malls in the two countries, have been consolidated into a single open-ended fund. Allen & Gledhill fielded partners Penny Goh, Tan Boon Wah and Danny Tan to advise Pramerica on the deal.
