Clifford Chance and Linklaters have taken lead roles on the Chinese government’s $19.5bn (£13.66bn) proposed cash injection into mining group Rio Tinto.
Rio Tinto, advised by Linklaters, raised the money by selling stakes in its mines and issuing convertible bonds to state-owned Chinese group Chinalco.
When the bonds are converted into shares, Chinalco, represented by Clifford Chance, will own 18 per cent of Rio Tinto. Clifford Chance corporate partners Kathy Honeywood and Nigel Wellings acted on the deal, supported by Beijing partner Rupert Li.
Linklaters was led by corporate partners James Inglis and Richard Godden.