Lonmin Plc announced on January 26, 2007 the successful completion of its offer to acquire all the issued and outstanding common shares in the capital of AfriOre Ltd. listed on the Toronto Stock Exchange and the Alternative Investment Market of the London Stock Exchange. The cash offer to acquire the shares was made by Lonmin Plc pursuant to a takeover bid circular dated December 21, 2006.
Lonmin Plc is the third-largest and the lowest-cost primary platinum producer in the world. AfriOre Ltd.'s principal asset is its 74 per cent ownership interest in the Akanani platinum group metal project in South Africa.
Lonmin Plc acquired approximately 96.5 per cent of the issued and outstanding shares pursuant to the offer contained in the takeover bid circular, and caused AfriOre Limited to redeem the remaining shares not held by Lonmin Plc in accordance with the laws of the British Virgin Islands. The total cost of the acquisition was approximately $475 million.
Lonmin Plc was represented in Canada by Blake, Cassels & Graydon LLP with teams in London and Toronto led by David Glennie and including Carlos Cerqueira and Mike Kicis (corporate & securities) and Chris van Loan (tax). Cliffe Dekker acted as counsel in South Africa with a team led by Chris Ewing that included Ryan Butler and Chris Charter (corporate & securities) and Jean Meijer and Natalie Browne (competition). Garth Grisbrook and Martin Lane of Conyers Dill & Pearman in London advised on issues relating to the laws of the British Virgin Islands, Michael Walter and Brian O'Malley of Herbert Smith LLP advised on issues relating to English law, and Ashar Qureshi of Cleary Gottlieb Steen & Hamilton LLP advised on issues relating to US law.
AfriOre Limited was represented by Macleod Dixon LLP in Canada with a team led by Marvin Singer and including David Knight, Anthony Shapiro and Marina Mandal (corporate & securities) and Ed Heakes (tax). Catharine Keene (corporate and tax); Elize van Biljon (competition) and Lourens van Staden (regulatory issues) of Tabacks provided South African advice to AfriOre Ltd.
Lonmin Plc is the third-largest and the lowest-cost primary platinum producer in the world. AfriOre Ltd.'s principal asset is its 74 per cent ownership interest in the Akanani platinum group metal project in South Africa.
Lonmin Plc acquired approximately 96.5 per cent of the issued and outstanding shares pursuant to the offer contained in the takeover bid circular, and caused AfriOre Limited to redeem the remaining shares not held by Lonmin Plc in accordance with the laws of the British Virgin Islands. The total cost of the acquisition was approximately $475 million.
Lonmin Plc was represented in Canada by Blake, Cassels & Graydon LLP with teams in London and Toronto led by David Glennie and including Carlos Cerqueira and Mike Kicis (corporate & securities) and Chris van Loan (tax). Cliffe Dekker acted as counsel in South Africa with a team led by Chris Ewing that included Ryan Butler and Chris Charter (corporate & securities) and Jean Meijer and Natalie Browne (competition). Garth Grisbrook and Martin Lane of Conyers Dill & Pearman in London advised on issues relating to the laws of the British Virgin Islands, Michael Walter and Brian O'Malley of Herbert Smith LLP advised on issues relating to English law, and Ashar Qureshi of Cleary Gottlieb Steen & Hamilton LLP advised on issues relating to US law.
AfriOre Limited was represented by Macleod Dixon LLP in Canada with a team led by Marvin Singer and including David Knight, Anthony Shapiro and Marina Mandal (corporate & securities) and Ed Heakes (tax). Catharine Keene (corporate and tax); Elize van Biljon (competition) and Lourens van Staden (regulatory issues) of Tabacks provided South African advice to AfriOre Ltd.
Lawyer(s)
David A. Knight
Edward A. Heakes
Marina Mandal
Anthony Shapiro
Marvin J. Singer
David Glennie
Christopher R.J. Van Loan
Carlos A. Cerqueira
Firm(s)
Blake, Cassels & Graydon LLP
Cliffe Dekker
Conyers Dill & Pearman
Herbert Smith Freehills LLP
Cleary, Gottlieb, Steen & Hamilton
Tabacks