Norton Rose Fulbright South Africa has advised Pangaea Investment Management, an associate of Chinese copper giant Jiangxi Copper, on a large and highly complex US$200 million platinum metal purchase transaction with the Lonmin group, the third largest global platinum producer.
The funds were released to the Lonmin group from escrow in October 2018.
The transaction in South Africa enables the Lonmin group to refinance its significant, and highly restrictive, existing indebtedness to its South African and International creditors, helps strengthen Lonmin’s balance sheet with additional working capital, and primes the group for the much anticipated merger with Sibanye Stillwater.
The transaction, completed within a short timeframe, involved a large number of Lonmin’s existing creditors across the South African and international lender syndicates.
Norton Rose Fulbright South Africa has advised Pangaea Investment Management with a team including Mike Mclaren and Georg Kahle (Picture).
Law Firms: Norton Rose Fulbright;
Clients: Pangaea Investments ltd;