London: Leading international legal practice Norton Rose has advised a consortium of investors on gold mining asset purchases in Kazakhstan and Kyrgyzstan from Polyus Gold International Limited.

A consortium consisting of Institute Project B.V, Financial Services B.V and Folkstand Consortium Limited has acquired 100 per cent of the shares in Kazakhaltyn MMC JSC and in addition loans in respect of which Kazakhaltyn MMC JSC was the borrower have been novated, for an aggregate (pre-tax) consideration of US$297.78 million. In addition, Norox Mining Company Ltd has been sold to Folkstand Consortium Limited for US$1 million.

The Norton Rose team was led by partners Simon Cox (based in London) and Yerzhan Kumarov (based in Almaty), assisted by Anna Nerush and Elena Makarenko.

Simon Cox, corporate partner with Norton Rose, said: “These transactions were two of a number of significant recent transactions involving natural resources assets in Central Asia on which the Norton Rose offices in London and Almaty have worked together.”

http://www.nortonrose.com/news/76998/norton-rose-advises-on-300-million…