Linklaters has scored a hatrick of deals in the mining so far this February after advising Impala Platinum Holdings (Implats) on its recommended takeover of an AIM listed African metal business.
Implats, the world’s second largest platinum producer, officially announced today (16 February) a £297m cash offer to shareholders in Afplats, with both companies reportedly agreeing the terms of the transaction.
The deal comes as the magic circle’s corporate partner Charles Jacobs and his team successfully advised on two other mining arrangements in quick succession.
Jacobs said: “It’s a big time in the mining space for consolidation so this year we are going to see a lot more of the big players snapping up juniors and a lot more mega-mergers.
“The London market has become the place to list mining companies which means we will see a lot more foreign companies taking over UK listed businesses.”
Two weeks ago, the team advised AIM listed Monterrico Metals in its takeover by Chinese investment company Xiamen Zijin Tongguan bagging the target business £94.6m. The deal is thought to be the first time the Chinese have bought a mining company on the London list.
Jacobs along with Linklaters partners Jennifer Schneck and Tom Shropshire, also advised mining group Gold Fields on the completion of an equity deal worth £0.6bn.
Simmons & Simmons partner Chris Wilkinson acted for Afplats, while the Chinese investment company was advised by Lawrence Graham partner Victoria Younghusband.
The banks in the equity deal were advised by corporate partner Sarah Murphy of Freshfields Bruckhaus Deringer.