UK’s Legal Week reports that Freshfields? has won a lead role on? a$3bn Indonesia mining deal
They report
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Freshfields Bruckhaus Deringer has been instructed by UK financier Nathaniel Rothschild’s mining investment firm Vallar on its acquisition of stakes in two of Indonesia’s top coal mining businesses, reports The Am Law Daily.
Vallar is set to pay $3bn (?1.9bn) for a 25% stake in Bumi Resources and a 75% stake in Berau Coal Energy, Indonesia’s first and fifth-largest coal producers respectively.
Freshfields corporate partners Julian Makin, Ben Spiers, Stephen Hewes, and Claire Wills are representing Vallar on the deal, which is structured as a reverse takeover expected to be completed by April of next year.
The cash-and-stock deal will create a company called Bumi PLC, which would be the only major Indonesian company listed on the London Stock Exchange, reports The New York Times.
Vallar is a publicly-traded investment vehicle based in the Jersey that raised more than $1bn (?626m) through a London initial public offering in July.
Sir Graham Hearne, a member of Vallar’s board of directors, once worked at Herbert Smith, Pinsent Masons and US firm Fried Frank Harris Shriver & Jacobson.
