Appleby’s Isle of Man office acted for Ferrous Resources Limited (Ferrous) in connection with its successful sale to Vale S.A. (Vale).
Vale are a Brazilian mining company and the world’s top producer of both nickel and iron ore. Ferrous is a company that owns and operates iron ore mines closely located to Vale’s operations in Minas Gerais, Brazil. The sale completed on 1 August 2019 and took effect via a scheme of merger under Isle of Man law.
Appleby Partner Tom Brook advised Ferrous on the Isle of Man law aspects of the scheme with support from colleagues Katherine Johnson and Sophie Corkish.
Tom Brook commented on the transaction: “Ferrous is a long standing and valuable client of the firm and we were pleased to support them on another significant transaction and look forward to seeing the company continue to grow under Vale’s ownership.”
The Appleby team worked closely with the New York office of US law firm Thompson Hine LLP, who acted as lead onshore counsel to Ferrous.
Appleby’s Merger & Acquisitions Team regularly works with FTSE 100 and Fortune 500 companies around the globe to help them deploy strategic growth and restructuring initiatives, whether involving single jurisdictions or complex multi-jurisdictional, multi-disciplinary transactions. They actively monitor M&A trends through their half-yearly Offshore-i report and their unique global presence means that they are able to advise clients on complex, cross-border transactions involving the offshore jurisdictions.