Davis Polk is advising Freeport-McMoRan Copper & Gold Inc. in connection with the acquisition from OM Group, Inc. of a large scale cobalt refinery in Kokkola, Finland through a newly formed joint venture to be held by Freeport-McMoRan Copper & Gold, Lundin Mining Corporation and La Generale des Carrieres et des Mines for total consideration of up to $435 million. The sale is subject to customary closing conditions and regulatory approvals and is expected to close in the second quarter of 2013.
Freeport-McMoRan is a leading international mining company with headquarters in Phoenix, Arizona. OM Group is a technology-based industrial growth company based in Cleveland, Ohio, serving the automotive systems, electronic devices, aerospace, general industrial and renewable energy markets.
The Davis Polk corporate team includes partner Paul R. Kingsley and associates Alexander N. Macleod and Ashley M. Bryant. Partner Kathleen L. Ferrell and associate Ankur Dalal are providing tax advice. Counsel Hayden S. Baker and associate Catharine Thorpe are providing environmental advice. Partner Edmond T. Fitzgerald is providing benefits advice. Associate Randy Samson is providing intellectual property advice. Counsel Stephen M. Pepper is providing antitrust and competition advice. All members of the Davis Polk team are based in the New York office.
