BUREN advises Nova Resources

BUREN acted as Dutch counsel to Nova Resources B.V., a company indirectly owned and controlled by a consortium comprising of Mr. Oleg Novachuk and Mr. Vladimir Kim (together the “Consortium”), in connection with the proposed £3 billion cash offer by Nova Resources B.V. for the entire issued and to be issued share capital of KAZ Minerals PLC (other than the share capital already owned or controlled by the Consortium) (the “Offer”).

KAZ Minerals PLC is a Kazakhstan-based and London-listed 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.

The Offer was originally structured and announced as a court-sanctioned scheme of arrangement, but the Consortium announced in December to implement the Offer by way of takeover offer. Completion of the Offer is subject to satisfaction of certain conditions, such as the Consortium receiving the required competition approvals and regulatory clearances. It is expected that completion will occur during the first half of 2021.