Kinross to Acquire Two Brazilian Power Plants for US$257 Million
March 09, 2018
Dechert LLP is advising Canadian-based senior gold mining company Kinross Gold Corporation on its acquisition of two Brazilian hydroelectric power plants through its wholly-owned subsidiary Kinross Brasil Mineraçao. The plants are being acquired from a subsidiary of Gerdau SA for US$257 million*.
Kinross will acquire the Barra dos Coqueiros and Caçu hydro power plants located on the Claro River. The deal will help to secure a low-cost, long-term power supply for its Paracatu mine through reduced tariffs and by eliminating about 70 percent of future power purchases. The acquisition is expected to close in approximately three to six months, subject to regulatory approvals and other conditions.
The Dechert corporate team is led by partners Laura Brank and Bernardo Piereck, with assistance from visiting attorney Guilherme Barros and associate Carla Tomazella.
About Dechert
Dechert is a global law firm focused on sectors with the greatest complexities and highest regulatory demands. We deliver practical commercial insight and judgment to our clients’ most important matters. Nothing stands in the way of giving clients the best of the firm’s entrepreneurial energy and seamless collaboration in a way that is distinctively Dechert.
*This US dollar value assumes a foreign exchange rate of 3.25 Brazilian reais to 1.0 US dollar.
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