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.
Shearman & Sterling also represented Anglo American last October in its $5.3 billion sale of a share of Anglo American Sur to Mitsubishi.
The Shearman & Sterling team included partners George Casey andMichael McGuinness, associate Rory O’Halloran and counsel Heiko Schiwek(all New York-Mergers & Acquisitions).
