Norton Rose Fulbright is advising Sacturino Limited — controlled by Said Kerimov, the son of billionaire Suleiman Kerimov — on its offer of USD 2.97 per share for the 59.8% share capital of Polyus Gold International that it or its parent Wandle Holdings Limited does not already own or have an interest in. Debevoise & Plimpton is advising Sacturino on financing aspects for its offer, which include a USD 5.49 billion facility arranged by VTB Bank — which was advised by Allen & Overy.
The offer values Polyus Gold at approximately USD 9 billion, and represents a premium of approximately 2% to the closing price per Polyus Gold share on September 2, 2015.
Polyus Gold — publicly listed on the LSE — is the largest gold producer in Russia and one of the top 10 gold miners globally by ounces produced, with 1.696 million ounces of gold output in 2014. Polyus Gold holds one of the largest gold reserves in the world, with 65.8 million ounces of proven and probable gold reserves, according to JORC standards, as at 31 December 2014.
The Norton Rose Fulbright team in London is led by Partners Chris Pearson and Paul Whitelock, supported by Corporate Partner Simon FT Cox and Corporate Associates Ed Gardner, Christopher McCarthy, Nicolas Sirtoli, Rickard Lillestierna, and Ksenia Bourne. The firm’s team also includes Banking Partner Rich Hughes and Senior Associate Neha Khosla. The firm’s Moscow team is led by Partners Julian Traill and Alexander Tsakeov.
Partner Pierre Maugue leads Debevoise's London-based team, which includes International Counsel Nathan Parker and Associate Tom Smith. Nik Kutnaks leads the firm’s Moscow-based team.
The A&O team advising VTB Bank was led by Banking Partner Sanjeev Dhuna, with support from Senior Associates Joydeep Choudhuri and Amanda Dent and Associates Hannah Gates and Fiona Yeung. Corporate advice was provided by Partner Richard Hough and Associates Sarah Thomas and Alex Tilley. Tax advice was provided by Partner Chris Harrison and Senior Associate Ben Brown.
Image Source: polyusgold.com