Clifford Chance

Clifford Chance advises Nova Resources on its £3bn take private offer for KAZ Minerals PLC

Clifford Chance is advising Nova Resources B.V. ("Bidco"), a company owned and controlled by a consortium of investors consisting of Mr Oleg Novachuck and Mr Vladimir Kim (the "Consortium") on its £3bn take private offer for KAZ Minerals PLC ("KAZ Minerals"). The Consortium already hold a c.39% stake in KAZ Minerals and the terms of its recommended all-cash offer, which is to be debt-financed and implemented by way of a scheme of arrangement, were announced to the market on 28 October 2020.

KAZ Minerals is a high growth copper company, listed in both London and Kazakhstan, focused on developing and operating large scale, low cost copper mines in Kazakhstan and the CIS region, with a proven track record for the successful delivery of a pipeline of growth projects, including its largest assets in Kazakhstan, Aktogay and Bozshakol. The acquisition is subject to  a number of antitrust and regulatory clearances, including strategic asset clearance approval in Russia, and it is expected these will be obtained with completion occurring in the first half of 2021. 

The Clifford Chance team in London is being led by corporate partners Tim Lewis and James Bole and includes corporate associates Olivia Higgs, Catherine Freeman, Holly Anderson and Faeezah Tailor; a finance team led by partners Nick Kinnersley and Karen Hodson, supported by senior associates Puja Patel, Issy Mashru and Jess Eilts and associate Emily Carling; an antitrust team comprising partner Jennifer Storey and associates Anna Simpson and Deborah Monteiro-Ferrett; a hedging team led by William Winterton, supported by senior associate Daniel Deacon and associate Tanner Phaovibul; TPE partners Sonia Gilbert and Nick Mace, and many others.