Gibson, Dunn & Crutcher, Much Shelist and FERRERE acted on the deal
Coeur Mining, Inc. (NYSE:CDE) has closed the sale of all of the outstanding capital stock of its wholly-owned Bolivian subsidiary, Empresa Minera Manquiri, S.A. (“Manquiri”), which operates the San Bartolomé Mine and processing facility near Potosí, Bolivia, to Ag-Mining Investments, AB (formerly NewCo 4714 Sweden AB under change of name to Argentum Investment AB) (“Ag-Mining”) by way of the previously announced agreement (the “Agreement”).
Pursuant to the Agreement, Ag-Mining acquired Manquiri from Coeur for consideration of: a 2.0% net smelter returns royalty payable to Coeur on all metals processed through the San Bartolomé Mine’s processing facility commencing on closing of the transaction, which Coeur estimates is worth approximately $8 million, and promissory notes to Coeur having an aggregate principal amount equal to $27.6 million, payable in equal monthly installments beginning on October 1, 2018 with a maturity date of September 1, 2019. In addition, all refunds of pre-closing value added tax (“VAT”) that will be collected or received by Manquiri in the future for any period ending on or before the closing date, net of collection costs, will be paid to Coeur. The balance of outstanding VAT at closing was $14 million.
As an all-stock transaction, except as otherwise specifically provided in the Agreement, all of the current and future assets and liabilities of Manquiri are retained by the entity under the new ownership by Ag-Mining.
Much Shelist advised Ag –Mining Investments AB with David M. Pilotto (Picture) and Christopher R. Walker.
In Santa Cruz, FERRERE advised Ag –Mining Investments AB Pablo Ordoñez, Carlos Pinto, Mattias Garrón and Delma Paz
Gibson, Dunn & Crutcher advised Coeur Mining Inc. with Steven R. Shoemate and Andrew Kaplan.
Involved fees earner: David Pilotto – Much Shelist; Christopher Walker – Much Shelist; Carlos Pinto – Ferrere Attorneys; Pablo Ordoñez – Ferrere Attorneys; Delma Paz – Ferrere Attorneys; Mattias Garron – Ferrere Attorneys; Steven Shoemate – Gibson Dunn & Crutcher; Andrew Kaplan – Gibson Dunn & Crutcher;