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Samarco is a mining company with operations in Minas Gerais and Espírito Santo. (Photo: Jefferson Rocio/Samarco)
Monday, December 11, 2023

Cleary, Davis Polk Advise Samarco Restructuring

Cleary, White & Case advise Brazil, Chile financing, deal work.


Cleary Gottlieb and Davis Polk advised on the $4.8 billion restructuring of Brazilian mining company Samarco; White & Case advised Brazilian water and waste companies Aegea Saneamento e Participações and Águas do Rio 1 and Águas do Rio 4 concessionaires on a 1.5 billion reais (approximately US$300 million) financing provided by IDB Invest; Cleary Gottlieb is representing an ad hoc group of holders comprising more than $328 million (or more than 80%) of the 5.125% senior secured notes due 2033 issued by Chilean renewable energy company ILAP in a voluntary restructuring through a Chapter 11 plan in the United States and Brazilian miner Vale in the closing of the sale of its 40% stake in Mineracão Rio do Norte (MRN), including all associated obligations and rights, to Ananke Alumina, a company affiliated with Norway-based Norsk Hydro.

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Keywords: Brazil, Chile, Cleary Gottlieb, Finance, Mining, White & Case

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