16 April, 2014

Baker & McKenzie is acting for CITIC Metal, a member of the Chinese consortium which has entered into an agreement with Glencore Xstrata on 13 April 2014 to acquire all of its equity interests in the Las Bambas Copper Project in Peru for approximately USD 5.85bn. This is one of the largest mining-related acquisitions by Chinese companies in the recent years. Of said Chinese consortium, China Minmetals holds a 62.5% interest whereas CITIC Metal holds a 15% interest and the remaining 22.5% interest is held by Guoxin International Investment Corporation.

The Baker & McKenzie team was led by partner Bee Chun Boo, and involved lawyers from Beijing, Hong Kong and Shanghai.

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