Natural resources giant acquires stake in Bumi Resources for $2bn

Freshfields Bruckhaus Deringer and Berwin Leighton Paisner (BLP) have taken lead roles on natural resources giant Vallar's $2bn (£1.2bn) issuance of convertible bonds to acquire a 75% stake in Bumi Resources Minerals (BRM).

BLP took the lead for new client BRM with a team headed up by Singapore managing partner Alistair Duffield (pictured), who joined the firm last year as a part of a six-strong team from Holman Fenwick Willan.

Duffield worked alongside corporate finance partner Alexander Keepin, as well as a London team under corporate finance partner Benjamin Lee.

Duffield commented: "Bumi is a new client for BLP and we are delighted to have advised them on such an exciting deal at the start of this relationship. The teams in both London and Singapore worked around the clock to complete this complex transaction."

Freshfields, meanwhile, advised longstanding client Vallar on the transaction, which has seen selling shareholder Bumi divest a portfolio of six mining assets in Indonesia and Africa.

The magic circle law firm fielded a London-based team led by corporate partner Julian Makin alongside fellow corporate partners Ben Spiers, Stephen Hewes and Claire Wills.

The deal also handed a role to Indonesian law firm Soemadipradja & Taher, which worked alongside Freshfields to advise Vallar on local law aspects of the transaction. The firm fielded a Jakarta-based team led by corporate partner Linda Wydiati.

BRM, a metal and minerals subsidiary owned by Indonesia's Bakrie family, listed on the Jakarta stock exchange last year.