Mourant Ozannes Advises On USD13bn Reverse Takeover
Tuesday, August 16, 2011
Mourant Ozannes has acted as sole Jersey legal adviser to KazakhGold Group
Limited and OJSC Polyus Gold, the largest gold producer in Russia, in the combination
of the two companies.
The combination consisted of a reverse takeover of Polyus Gold by KazakhGold,
with KazakhGold subsequently being renamed Polyus Gold International Limited.
As a result of the merger, Polyus has become the largest pure gold mining
company listed on the London Stock Exchange in terms of gold production and
mineral resources, with a market value of approximately USD13bn.
Partner James Hill, who led the Mourant Ozannes team, assisted by senior associate
Jon Woolrich, commented:
"We are delighted to have advised KazakhGold and Polyus Gold on this
deal. We advised Polyus Gold on its acquisition of a majority stake in KazakhGold
in 2009, and started work on the reverse takeover in 2010. It's great to see
this deal over the line. 2011 has seen a significant amount of activity in the
commodities sector and Jersey has played a central role in some of the year's
largest and most high profile transactions."
Woolrich added: "This is yet another significant transaction on which
our Jersey team has advised in recent months, following closely on the back
of the initial public offerings by Glencore and Vallares. According to the latest
Hemscott quarterly rankings, we advise over twice as many FTSE100 and 250 companies
as any other offshore law firm, and we expect this market leading position to
have increased even further once the next set of Hemscott figures are released."