AngloGold’s $820 Million Sale of its U.S. Cripple Creek & Victor Mine to Newmont

On June 8, 2015, AngloGold Ashanti Limited announced that it has agreed to sell its Cripple Creek & Victor mine in the United States to Newmont Mining Corporation for $820 million in cash, plus a net smelter return royalty. Cravath represented AngloGold Ashanti in connection with this transaction, which is subject to customary closing conditions and is expected to close in August 2015.

The Cravath team was led by partner Richard Hall and included associate Lee Johnston on M&A matters; partner Eric W. Hilfers, senior attorney Lawrence A. Pasini and associate Amy C. Benford on executive compensation and benefits matters; partner David J. Kappos and practice area attorney Anthony N. Magistrale on intellectual property matters; partner Matthew Morreale on environmental matters; partner Christine A. Varney and associate Jesse M. Weiss on antitrust matters; and practice area attorney Gary R. Eisenman on real estate matters. Maria Rita Sobral also worked on M&A matters.