Shearman & Sterling advised Minera Frisco, S.A.B. de C.V. (“Minera Frisco”) in connection with a $1.1 billion financing related to its acquisition of AuRicoGold de México, S.A. de C.V. Minera Frisco is majority owned by Carlos Slim, the world’s richest person according to the Bloomberg Billionaires Index. Minera Frisco, which was spun off from Slim’s holding company Grupo Carso S.A.B. at the beginning of 2011, is his biggest holding behind wireless carrier America Movil S.A.B. and financial-services company Grupo Financiero Inbursa S.A.B.
Media reports have called this transaction the largest ever gold deal involving a Mexican company.
The following Shearman & Sterling lawyers advised in the transaction: partners Gregory Tan (New York-Project Development & Finance) and Douglas McFadyen (New York-Tax) and associates Gaurav Chaudhari (New York-Project Development & Finance), Ranbir Chowdhary (New York-Project Development & Finance), Nicole Gragg (New York-Project Development & Finance), Timothy Hanson (New York-Executive Compensation & Employee Benefits), Derek Kershaw (New York-Tax), Shawn Pelsinger (New York-Investment Funds) and Daniel Smith (New York-Tax).
