Mergers & Acquisitions
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Our M&A lawyers are among the most experienced and effective in the world. We represent many of the world's largest publicly traded and privately held companies, as well as leading private equity firms, financial advisors and other financial institutions and investors on their most important mergers, acquisitions and takeover transactions.
Lundin Mining Acquires Majority Interest in Chile’s Caserones Copper Mine
- Client News
- July 13, 2023
Paul, Weiss advised Lundin Mining Corporation in its acquisition of a majority stake in Lumina Copper, a wholly owned subsidiary of JX Nippon Mining & Metals Corporation that operates Chile’s Caserones copper mine. Under the terms of the $950 million deal, Lundin Mining paid JX approximately $800 million, with an additional $150 million in installments to be paid out over six years; Lundin may also acquire up to an additional 19% interest in Caserones for $350 million over the next five years.
In connection with the transaction, Lundin Mining obtained commitments for a three-year term loan of $800 million, with an additional $400 million accordion line of credit option available. The acquisition increases Lundin’s exposure to a highly desired base metal crucial to a lower-carbon future.
The Paul, Weiss team included M&A partners Ian Hazlett and Adam Givertz and counsel Chikara Momota; tax partner Matthew Jordan; litigation partner Andrew Gordon; and antitrust counsel Yuni Sobel and Marta Kelly.