Latham & Watkins’ latest deals

Latham & Watkins has advised Saudi Arabian Mining Company (Ma’aden) on the acquisition of a 50 per cent interest in the Jabal Sayid Copper Project in Saudi Arabia from Barrick Gold CorporationMa’aden announced on July 13, 2014 that it has entered into definitive agreements with Barrick Gold Corporation to acquire a 50 per cent interest in the Jabal Sayid Copper project in Saudi Arabia for USD210 million.  The acquisition is expected to close in the third quarter of 2014.Latham advised Ma’aden with a deal team led by London partner Glen Ireland with the assistance of counsel Omar Elsayed and associate Jonathan Pride in Riyadh and London associates Huw Thomas and Emily Cridland.  Advice was also provided on projects matters by London associate Victoria Salem.

 The firm alsoadvised Aqaba Development Corporation (ADC) on the procurement of the third and final construction package for the New Port of Aqaba – the JD50 million (USD70 million)EPC arrangements for the onshore infrastructure works signed with MID Contracting Company LLC in June 2014. ADC was advised by the firm on the procurement of the first and second construction packages for the New Port of Aqaba in December 2011 and October 2012 respectively. 

The Latham & Watkins’ Abu Dhabi-based team was led by partner Villiers Terblanche with associate Derek McKinley.

Latham & Watkins advised Etihad Etisalat Company (Mobily) in connection with a USD200 million murabaha facility made available by Export Development Canada. The facility will be used by Mobily to purchase eligible goods and services supplied to it by affiliates and subsidiaries of Alcatel Lucent S.A., including Alcatel Lucent, Canada Inc.The Latham & Watkins team spanned the firm’s Riyadh and Dubai offices and was led by partners Craig Nethercott and Harj Rai with associate Peter Norris.