Glencore plc sells its interests in the Rosh Pinah mine in Namibia and the Perkoa mine in Burkina Faso
August 31, 2017
417.86 Million USD
On August 31, 2017, Glencore plc ("Glencore") closed a definitive agreement with Trevali Mining Corporation (“Trevali”), whereby Trevali purchased Glencore’s 80% interest in the Rosh Pinah mine in Namibia and 90% interest in the Perkoa mine in Burkina Faso. The aggregate purchase price for the Assets of US$417.86 million was comprised of cash consideration of US$245.21 million (the "Cash Consideration"), and an aggregate of 193,432,310 common shares of Trevali at a deemed price of C$1.20 per Common Share.
Glencore is one of the world’s largest global diversified natural resource companies and a major producer and marketer of more than 90 commodities. The Group's operations comprise around 150 mining and metallurgical sites, oil production assets and agricultural facilities.
McCarthy Tétrault LLP advised Glencore with a team led by Roger Taplin (Mining and M&A) and included Steven Molnar, Chris Langdon, Adam Taylor, Mark McEwan, Adam Wanke, Shauvik Shah and Ainslie Hurd (Mining and M&A), and Dominic Thérien (Competition).