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Xstrata purchases Lonmin shares and enters into a three-year $5 billion loan facility

October 2008 - Corporate & Commercial. Legal Developments by BÄR & KARRER LTD..

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On 1 October 2008, Xstrata plc announced the acquisition of Lonmin shares for a cash consideration of £440 million and the entry into of a new three-year $5 billion multi-currency revolving loan facility with a group of its relationship banks.

The new facility will be used to refinance existing debt and for general corporate purposes. Xstrata is a global diversified mining group, listed on the London and SIX Swiss Stock Exchanges, with its headquarters in Zug, Switzerland. Xstrata was advised by Bär & Karrer on the Swiss legal aspects of the transaction. The team of Bär & Karrer comprised partner Ralph Malacrida and associate Lukas Roesler.

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