Watson Farley & Williams (“WFW”) acted as English law counsel to Alamos Gold Inc. (“Alamos”) on the sale of its Turkish subsidiary, Doğu Biga Madencilik Sanayi ve Tic. A.Ş. (“Doğu Biga”), to Tümad Madencilik Sanayi ve Ticaret A.Ş. (“Tümad”) for US$470m. Torys LLP was Alamos’ lead legal counsel.
The US$470m sale price will be paid in three instalments: US$160m paid upon completion of the transaction on 27 October, followed by payments of US$160m and US$150m on the one and two-year anniversaries of closing.
Alamos is a Canadian intermediate gold producer with diversified production from three operations in North America. Tümad is a Turkish mining group that holds exploration licenses for precious and base metals in its portfolio.
The WFW team that advised Alamos was led by Partner and Mining Lead Jan Mellmann and Corporate Partner Tony Edwards, supported by Senior Associates Thomas Newlyn and Shaun Young and Associate Toby Hunt. Finance expertise was provided by Projects Partner Daisy East, with Dispute Resolution Partner Alexis Martinez advising on arbitration matters.
The Torys LLP team was led by Partners Kevin Morris and Braden Jebson, assisted by Associates Alisse Wilson and Aaron Good.
