© Jacquie S.
BMAJ has advised EMR Capital, in the acquisition of the Cerro Colorado mine, located in Chile, from BHP Billiton for a total of $230m, plus the proceeds from the sale of the copper inventory, worth up to $40m. The deal was signed on June 19th.
EMR Capital is an Australian private equity group that specializes in resources project development, operations and investments, and has deep links with Asian markets.
The acquisition was structured as a purchase of shares of BHP’s entity owner of Cerro Colorado mining project.
Representation included full due diligence and negotiation of the purchase agreement. Closing is subject to financing and customary closing conditions, and is expected to happen during the fourth quarter of 2018.
Bofill Mir & Álvarez Jana in Chile and Osler, Hoskin & Harcourt acted as the purchaser’s counsel while Urenda Rencoret Orrego Dörr in Chile and BHP Legal served as the seller’s counsel.
BMAJ’s team was led by partners Pablo Mir and Rodrigo Saffirio, assisted by senior associates Felipe Allende, Joaquín Pérez and Esteban Fresno.