Kazakhmys hands Links new £1.4bn mining deal
Linklaters has advised regular client Kazakhmys as the mining giant moves to increase its stake in Eurasion Natural Resources Corporation (ENRC) to more than 25%. Kazakhmys, which is listed on the FTSE 100 and is a regular client of the City giant, has agreed to take on an extra 7.7% share in ENRC from the Government of Kazakhstan in a deal worth around £1.4bn.
June 10, 2008 at 11:44 AM
2 minute read
Linklaters has advised regular client Kazakhmys as the mining giant moves to increase its stake in Eurasion Natural Resources Corporation (ENRC) to more than 25%.
Kazakhmys, which is listed on the FTSE 100 and is a regular client of the City giant, has agreed to take on an extra 7.7% share in ENRC from the Government of Kazakhstan in a deal worth around £1.4bn.
Corporate partner Charlie Jacobs, who co-heads the mining group at the magic circle law firm, headed the team for Linklaters, alongside Moscow-based corporate partner Hugo Stolkin and managing associate Alex Molla.
JP Morgan Cazenove and Merrill Lynch acted as financial advisors to Kazakhmys on a deal that is subject to regulatory and shareholder approval. The mining company has ruled out making a formal takeover bid for ENRC.
Linklaters has advised Kazakhynms since its UK listing in 2005 and acted on the Kazakhstan-based copper giant's earlier acquisition of an 18.8% stake in ENRC in October last year, when Jacobs and his team again took the lead advisory duties.
Meanwhile, the City giant also represented Kazakhmys in March on the creation of a $2.1bn (£1.06bn) pre-export debt facility. That deal was unique in the trade finance market, representing the first time that funds certainty had been used in the context of a pre-export financing.
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