FFW advises Dundee Precious Metals on Armenian acquisition
01 September 2006
Law firm, Field Fisher Waterhouse LLP has won a £400,000 damages
payout Field Fisher Waterhouse LLP (FFW) has advised Toronto Stock
Exchange listed mining company, Dundee Precious Metals Inc, on the
acquisition of an 80% stake in Vatrin Investment Ltd. Vatrin
holds 100% of the Deno Gold Mining Company, whose principal asset
is the Kapan Mining Project in southern Armenia.
Dundee Precious Metals is an international mining company
engaged in the acquisition, exploration, development and mining of
precious metals. The company currently owns mining
developments in Bulgaria, Serbia and Canada as well as holding a
significant portfolio of investments in the precious metals and
minerals sector. The Kapan Mining project, which includes
copper, zinc and gold reserves, is an important acquisition for
Dundee Precious Metals and will see the company investing resources
and exploration expertise to expand the mine and maximise
production.
The consideration for the acquisition is a maximum of US$22
million plus an additional US$10 million investment commitment for
initial mine expansion. The European Bank for Reconstruction and
Development has also provided a facility to assist with the
development of the mine.
FFW corporate partner, Anne Cruikshank led on the deal, assisted
by corporate solicitor, Lucy England. This is the latest
corporate deal for the firm which in the last month, advised NYSE
listed Trinity Industries Inc in relation to the sale of its
European rail business to International Railway Systems S.A.
Anne Cruikshank said: “We are delighted to have successfully
completed this transaction for Dundee Precious Metals. It
reflects the current high level of deal activity in the mining
sector and follows on from a number of AIM listings and M&A
transactions we have advised mining companies on this year.”
Vatrin was advised by Wilmer Hale (Michael Holter and Giles
Hawkins).
For further press information please contact:
Ben Girdlestone, Communications Manager on 020 7861 4968
Louise Eckersley, PR Executive, Field Fisher Waterhouse LLP on
020 7861 4120