AB Krasny Gold Fields has entered into into a JV with GV Gold to take the Krasny Project to production stage
GBLP is pleased to announce that its client AB Krasny Gold Fields has entered into into a JV with GV Gold to take the Krasny Project to production stage
Corporate/M&A of Goltsblat BLP, the Russian practice of international law firm Berwin Leighton Paisner (BLP), have supported the deal whereby GBLP client – AB Krasny Gold Fields has entered into a joint venture to explore and exploit a gold hard rock deposit in Irkutsk Region (Kransy Project) with one of the key gold producers in Russia Open Joint Stock Company "GV Gold" ("GV Gold"). Under the terms of the agreement, GV Gold may earn up to a 51% interest in the Krasny Project by financing an in‐fill exploration program. Signing of the agreement means that the parties have agreed to the final details of the deal structure and the exploration program.
AB Krasny Gold Fields is a subsidiary of Kopy Goldfields AB (publ), listed at NASDAQ OMX First North in Stockholm, which is a gold exploration and production company operating in one of the most gold rich areas in the world; Lena Goldfields, Bodaibo, Russia. The company holds 100% of 11 bedrock exploration‐ and production licenses on 1,963 sq km. The target for Kopy Goldfields is to create value by identifying and acquiring high potential gold projects, prospect and explore them until the stage when it can be either sold out for cash or developed in cooperation with another partner under JV agreement.
The team of Corporate / M&A was led by Anton Sitnikov, Partner, Head of Corporate / M&A Goltsblat BLP who said: “We’re delighted to see our firm as a key legal partner in international deals in natural resources sector with participation of the western public company and a major Russian gold producer. The successful execution of this transaction highlights our firm’s capabilities for doing deals in natural resources sector both in Russia and internationally."
A key deal-running role was played by Matvey Kaploukhiy, partner Corporate / M&A. The team also included an English qualified partner Ian Ivory, Kyle Davis, a corporate partner focused on the Energy and Natural Resources at GBLP and Nikolay Kholshev.
The global Corporate/ M&A team consists of more than 230 lawyers, the majority being based in London and Moscow. We also have corporate lawyers based at our Abu Dhabi, Beijing, Berlin, Brussels, Dubai, Frankfurt, Hong Kong, Paris and Singapore offices. In Russia, it is one of the biggest corporate teams, with substantial experience of mid-to-large-scale cross-border and other complex transactions.
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