Newcrest’s $2.8 Billion Acquisition of Pretivm
November 12, 2021
On November 8, 2021, Newcrest Mining Limited (“Newcrest”) announced it has entered into an agreement to acquire all of the issued and outstanding common shares of Pretium Resources Inc. (“Pretivm”) that it does not already own by way of a Canadian Plan of Arrangement. Pretivm is the owner of the Brucejack operation in the Golden Triangle region of British Columbia, Canada. The total consideration offered values all of the outstanding common shares of Pretivm at approximately $2.8 billion, on an undiluted basis. Pretivm shareholders will be able to elect either C$18.50 in cash or 0.80847 Newcrest shares per Pretivm share, subject to proration and an aggregate cap of 50% cash and 50% Newcrest shares. Pretivm shareholders who do not elect cash or Newcrest shares (subject to proration) will receive default consideration of C$9.25 per Pretivm share in cash and 0.40427 Newcrest shares per Pretivm share. Cravath is representing Newcrest as U.S. counsel in connection with the transaction.
The Cravath team is led by partners George A. Stephanakis and Richard Hall and includes European counsel Virginie Marier and associates Nicoleta D. Lupea and Kristina Klem on M&A matters and partner Eric W. Hilfers and associate Christopher C. Gonnella on executive compensation and benefits matters.
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LL.M., 1997, Harvard Law SchoolFulbright Scholar
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LL.M., 1995, Cambridge University - Faculty of Law
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LL.B., 1994, University of Athens School of Lawsumma cum laude
- New York
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LL.M., 1988, Harvard Law School
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LL.B., 1986, University of Melbournewith Honors
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B.Com., 1984, University of Melbournewith Honors
- New York
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J.D., 1998, University of Chicago Law Schoolwith Honors
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A.B., 1995, Princeton University
- New York
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LL.B., 2010, McGill University, Faculty of Law
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B.C.L., 2010, McGill University, Faculty of Law
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B.A., 2006, Yale Collegemagna cum laude
- New York
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J.D., 2014, Georgetown University Law Centercum laude
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M.A., 2014, Sciences Po
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B.B.A., 2010, Baruch College CUNYmagna cum laude
- New York
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