Shearman London team joins Corrs on gold miner's Kenyan buy
A Shearman & Sterling City team has advised alongside Australian firm Corrs Chambers Westgarth on a A$20m (£13.2m) deal under which Tanzanian miner African Barrick Gold (ABG) will buy Aviva Mining’s Kenyan assets.
The purchase of Aviva Mining Kenya, which is subject to the approval of Aviva’s shareholders and the consent of the Kenyan Competition Authority, will see London-listed gold miner ABG step outside Tanzania for the first time.
Shearman was lead counsel for ABG, with the team led by London corporate partner Laurence Levy alongside City finance partner Mei Lian and Paris-based project finance partner Christopher Asselineau. London-based counsel Simon Letherman and associate James Leslie advised on tax aspects of the deal.
Shearman instructed Nairobi firm Kaplan & Stratton as local counsel in Kenya.
Aviva, a resource development company listed on the Australian Stock Exchange, has turned to Australian-based law firm Corrs Chambers Westgarth, with corporate and mining partner Russell Philip as lead counsel.
According to Reuters, ABG posted attributable gold production of 153,099 ounces in the three months to 30 June, 11 per cent down on the same period last year.
