Shearman & Sterling Advises Anglo American on Its New Partnership with Codelco and Settlement of Claims

Shearman & Sterling is advising long-time client Anglo American in its agreement with Corporación Nacional del Cobre de Chile (Codelco) to form a new partnership in respect of certain of Anglo American’s copper interests in Chile, known as Anglo American Sur. Anglo American and Codelco, with assistance from their respective partners, Mitsubishi and Mitsui, have settled their respective claims in relation to the Anglo American Sur option agreement and have agreed to a sale of a 29.5% interest in Anglo American Sur to a Codelco and Mitsui joint venture company for approximately $2.8 billion.

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Tags:  Shearman & Sterling LLP | New York

Davis Polk – Molycorp, Inc. Concurrent Offering of Common Stock and Convertible Senior Notes and Related Share Lending Agreement

Davis Polk advised Morgan Stanley & Co. LLC as the sole book-runner on a $258 million SEC-registered offering of 25,800,000 shares of common stock of Molycorp, Inc. (Molycorp), of which 12,000,000 shares were offered and sold by Molycorp and 13,800,000 shares are being loaned by Molycorp to Morgan Stanley Capital Services LLC under a share lending agreement. Davis Polk also advised Morgan Stanley Capital Services LLC as the share borrower in connection with the share lending agreement.

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Tags:  Davis Polk & Wardwell LLP | New York

Norton Rose Australia Advises on Caulfield Village

Norton Rose Australia has advised the Melbourne Racing Club on the development of its privately owned land surrounding the Caulfield racecourse into a new major urban development project, known as Caulfield Heath which is one of the largest real estate developments in Victoria in recent times.

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Tags:  Norton Rose Fulbright