Strategic acquisition of mining company in Peru. Our firm is advising Mitsui Mining & Smelting on an M&A transaction for the acquisition of Compañía Minera Quechua, in which the client has, indirectly, a minority interest jointly with Pan Pacific Copper to Glencore Perú.
Key agreements in transaction process: The transaction not only involves a negotiation of the Share Purchase Agreement (SPA), but also a conditioned Land Purchase Agreement (LPA) between the Peruvian branch of the client and the counterparty, which had to be signed as part of the transaction. The SPA and LPA were signed on December 24, 2024
Strengthening mining operations with strategic expansion: Glencore Perú has zinc and copper mining operations, along with a logistics unit in Callao and corporate offices in Lima. The transaction will provide Glencore Perú with important mining lands that will allow to generate synergies with its existing operations and bring greater development to the area.
Leading Japanese metal manufacturer: Mitsui Mining & Smelting is a Japanese company established in 1950 that engages in the manufacturing and sale of metal products. It has more than 12,000 employees.
Latest development: Currently, the parties are working on completing the closing conditions for the SPA and suspensive conditions for the LPA involving negotiations with local communities and rectification of boundaries of the lands, which is expected to take approximately 24 months.
