Orrick has advised the Russian Copper Company on its USD 200 million acquisition of the Malmyzh copper-gold porphyry field in the Russian Far East designated as of “federal importance" from Khabarovsk Minerals LLC. Norton Rose Fulbright reportedly advised the sellers on the deal, which was signed on June 9, 2018, and completed on September 28, 2018.
According to Orrick Partner Konstantin Kroll, who led his firm's team on the deal, the acquisition "is a good indication that large scale M&A deals are still done in Russia, at least in the metals and mining sector. From a legal standpoint the transaction was interesting as it involved a Russian law escrow agreement (still relatively new to the Russian market) and a combination of an English law framework agreement and a Russian law notarial sale and purchase agreement."
