4 LEXPERT MAGAZINE
|
AUGUST 2019
DEALS
ANALYSIS
Corporate Finance
21
Mergers and Acquisitions
21
Cross-border Transactions
21
BARRICK GOLD AND NEWMONT
COMPLETE JOINT VENTURE
TO CREATE WORLD'S LARGEST
GOLD COMPLEX
TRANSACTION VITALS
Closed: July 1, 2019
Transaction Type: Joint venture
Total Value: undisclosed
MELANIE SHISHLER
DAVIES WARD PHILLIPS
& VINEBERG LLP
(FOR BARRICK GOLD CORP.)
NEILL MAY
GOODMANS LLP
(FOR NEWMONT COLD-
CORP CORP.)
Barrick Gold Corporation ("Barrick") and
Newmont Goldcorp Corporation ("New-
mont") completed a joint venture that com-
bined their respective mining properties in
Nevada to create the world's largest gold
complex. e new joint venture, which will
operate as Nevada Gold Mines, officially
launched on July 1, 2019.
e joint venture is a landmark accord
between the two gold mining compan-
ies, which have operated independently in
Nevada for decades. Under the agreement
reached earlier this year, Barrick will oper-
ate the Nevada complex and will initially
hold a 61.5% ownership stake, while New-
mont will own 38.5%.
Nevada Gold Mines will rank as the
largest global gold-producing complex by
a wide margin, with three of the world's
top 10 Tier One1 gold assets (Goldstrike/
Carlin, Cortez and Turquoise Ridge/Twin
Creeks) and potentially another one in the
making (Goldrush). Its assets in northeast-
ern Nevada comprise 10 underground and
12 open pit mines, two autoclave facilities,
two roasting plants, four oxide mills, a flo-
tation plant and five heap leach operations.
In 2018 these operations produced a total
of 4.1 million ounces of gold. e com-
pany has a strong reserve and resource base
with Proven and Probable Reserves of 48.3
million ounces; Measured and Indicated
Resources of 27.4 million ounces; and a
further 7.5 million ounces of Inferred Re-
sources with still more potential.
Goodmans LLP represented Newmont
in Canada with a team that included Neill
May, Chris Sunstrum and David Coll-
Black. Davis Graham & Stubbs LLP
represented Newmont in the United States
with a team that included Bruce Stocks,
Mark Bussey, Scott Hardt and Nathan
Goergen. Newmont was represented in-
house by Stephen P. Gottesfeld, Nancy K.
Lipson, Logan Hennessey, Mark Ebel and
Veronica May.
Davies Ward Phillips & Vineberg LLP
represented Barrick in Canada with a team
that included Melanie Shishler, Richard
Fridman, Jared Solinger, Marc Pontone and
Andrew Mihalik. Parsons Behle & Lati-
mer represented Barrick in the Unites States
with a team that included Nora Pincus and
Stephen Hull. Barrick was represented in-
house by Rich Haddock and Peter Webster.
Consumer Services Energy & Power Pipelines
Aerospace & Defence Automotive Materials
Utilities Financials Health Research
Media & Entertainment Recreation & Leisure Advertising & Marketing
E-Commerce Construction & Engineering
Consumer Staples
PARTNERS VALUE
INVESTMENTS COMPLETES
SUBSTANTIAL ISSUER BID
CLOSING DATE: JULY 10, 2019
On July 10, 2019, Partners Value Invest-
ments LP (the "Partnership") completed a
previously announced substantial issuer bid
by PVII Subco Inc., a wholly owned indirect
subsidiary of the Partnership, and purchased
9,915,637 Class A Preferred Limited Part-
nership Units, Series 1 of the Partnership at
a price of US$25.2127 per unit.
Partners Value Investments was repre-
sented by an in-house team led by Kathy
Sarpash (Vice President, Legal & Regulato-
ry at Brookfield Asset Management). Torys
LLP provided external support with a team
that included Jim Hong, Paulina Taneva
and Jordan Fenton.
STAPLES CANADA ULC
SELLS RETAIL PROPERTY
TO MELCOR REIT
CLOSING DATE: APRIL 24, 2019
On April 24, 2019, Staples Canada ULC
followed recent completions — including
those on February 7, 2019, December 31,
2018, December 5, 2018, and others in 2018
— with another completed sale-leaseback
transaction in connection with a string of
national deals whereby Staples Canada ULC
sold its retail property (located in Calgary,
Alberta) for $12,450,000 to Melcor REIT
Limited Partnership and leased back the
property for an initial term of 15 years.
e transaction reflects an ongoing
representation of Staples Canada in their
continued restructuring of their Canadian
portfolio of retail properties with total sales
eclipsing $165,000,000 to date.
Staples Canada ULC was represented by
Mario Paura, Don Belovich and Jonathan
Lang of Stikeman Elliott LLP.
Melcor REIT Limited Partnership was
represented by Douglas J. Hughes of Bish-
op & McKenzie LLP.
Consumer Services Energy & Power Pipelines
Aerospace & Defence Automotive Materials
Utilities Financials Health Research
Media & Entertainment Recreation & Leisure Advertising & Marketing
PINNACLE RENEWABLE
ENERGY EXPANDS ITS
CREDIT FACILITY TO $530M
CLOSING DATE: JUNE 14, 2019
On June 14, 2019, Pinnacle Renewable
BIG DEALS
CORPORATE TRANSACTIONS OF IMPORTANCE
15
Total Deals Published
