BAKU, Azerbaijan, Apr. 16
By Nargiz Sadikhova - Trend:
VTB Group acted as the exclusive financial advisor and financing bank for Nova Resources as part of the recommended offer to acquire KAZ Minerals shares for $3.5 billion, Trend reports citing VTB.
In October 2020, Nova Resources announced a recommended cash offer for non-owned KAZ Minerals shares, and on April 9, 2021, the offer was declared wholly unconditional. Following the deal, Nova Resources intends to de-list the company from the London and Kazakhstan stock exchanges.
VTB Capital acted as the exclusive financial advisor to Nova Resources, while VTB Bank acted as the sole financing bank on the deal, providing $5.7 billion in total (including a backstop facility to refinance KAZ Minerals existing debt).
The deal represents the largest Metals & Mining transaction in Europe and the CIS region in 2021, as well as the second largest acquisition deal of a London Stock Exchange-listed company.
Moreover, this is the third public takeover offer for an LSE-listed Metals & Mining company that VTB Capital has advised on as the exclusive consultant and provided financing for over the last 12 months.
KAZ Minerals is a high growth copper company focused on large scale, low cost open pit mining in the CIS region, with a proven track record for the successful delivery of greenfield mining projects.
Nova Resources is a private company owned by a consortium comprised of Oleg Novachuk, Chairman of the Board of Directors at KAZ Minerals, and Vladimir Kim, Non-Executive Director at KAZ Minerals.
