Carey advised Codelco in a USD1,863 million debt financing from Mitsui & Co. to acquire 24.5% of Anglo American Sur
September, 2012 - Santiago, Chile
Carey advised Codelco in a USD1,863 million debt financing from Mitsui & Co. to acquire 24.5% of Anglo American Sur (the company owned by Anglo American plc holding world class copper mines in Chile), in the settlement of a one-year long and much publicized dispute with Anglo American (including a shareholders’ agreement and the transfer of certain mining concessions to Codelco) and in the joint venture with Mitsui to acquire an additional 5% in Anglo American Sur, through which Codelco will control 29.5% of such assets.
The transaction will allow to develop the largest copper mining area in the world, and Codelco will be able to exercise the option (at a discount price) that the State of Chile had since year 1978, which will strengthen Codelco’s strategic position and increase it world class assets.
Carey advised Codelco in this complex transaction, through a team led by partners Juan Guillermo Levine, Alex Fischer, Cristián Eyzaguirre and María Fernanda Carvajal, and associates Francisco Corona, Cristián Figueroa, Giannina Veniú and Fernanda Urra.
