Paul, Weiss is an acknowledged leader among U.S. law firms representing Canadian public and private companies and their underwriters. With almost 50 years of history in Canada and an office in Toronto, our vibrant Canada practice is the largest among U.S. law firms and reflects our long-standing commitment to our clients in their Canadian–U.S. cross-border matters.
Ivanhoe Mines Launches $1.8 Billion Rights Offering
Paul, Weiss advised Ivanhoe Mines, a Canadian mining company with operations focused in the Asia Pacific region and majority-owned by Rio Tinto, on a US$1.8 billion rights offering launched on June 8, as part of a comprehensive financing plan for continuing development of its Oyu Tolgoi copper mine in Mongolia. Rio Tinto committed to support the rights offering by exercising its full basic subscription privilege with respect to its 51% shareholding in Ivanhoe Mines, as well as by providing a standby commitment for the full amount of the rights offering, subject to certain conditions. The trading of rights on the NYSE, NASDAQ and TSX (IVN) begins on June 14 and the offering will expire on July 19.
The Paul, Weiss team included corporate partners Andrew Foley and Edwin Maynard, corporate counsels Scott Fisher and Philip Heimowitz; tax partner David Mayo; and environmental counsel William O'Brien.