Global legal practice Norton Rose Fulbright has advised Anglo Pacific Group PLC (“Anglo Pacific”) on a royalty acquisition and related placing. Anglo Pacific is a global mining royalty company, listed on the main market of the London Stock Exchange and on the Toronto Stock Exchange. Anglo Pacific’s strategy is to create the premier base metals and bulk materials listed royalty company.

Anglo Pacific agreed to acquire a royalty interest in the Maracás Vanadium Project, located in Brazil and operated by TSX Venture Exchange-listed Largo Resources Limited, from the existing holder, Cancap Investments Limited. The consideration for the acquisition was up to US$25m in cash, together with the issue of certain share warrants. The acquisition completed on 10 June 2014.

The acquisition was partially funded through an accelerated bookbuilt placing which raised proceeds of approximately £10m. Barclays Bank plc and BMO Capital Markets Limited acted as joint bookrunners in connection with the placing.

The Norton Rose Fulbright team was led by corporate partner Nick Adams, assisted by Keith Law. Pierre Dagenais and Bruce Sheiner advised on Canadian issues connected to the placing and the acquisition. Tom Vita and Marina Petrova advised on US securities issues relating to the placing. Martin McCann and Steve Palmer provided additional assistance on royalty issues. Dominic Stuttaford advised on tax.