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Goodmans Deals & Cases

This section contains brief summaries of selected significant cases and transactions.  You'll also find representative lists  - by year - of major transactions and cases where Goodmans' involvement is a matter of public record or where inclusion in the list has been authorized by our clients.

Nyrstar Completes $663M Friendly Take-Over of Breakwater Resources

2011

Areas Competition, Antitrust and Foreign Investment, Corporate Finance and Securities, Mining and Natural Resources, Pensions, Tax

Summary

Goodmans represented Nyrstar NV (“Nyrstar”) in connection with its acquisition of Breakwater Resources Ltd. (TSX: BWR) (“Breakwater”) for $663 million by way of friendly take-over bid.  Nyrstar acquired 82,760,567 common shares of Breakwater representing approximately 92.267% of the issued and outstanding shares of Breakwater that were taken up by Nyrstar. Breakwater shareholders received C$7.00 in cash per common share, representing a total value of approximately C$619 million to be paid by Nyrstar and a special cash dividend of C$0.50 in cash per common share (the “Breakwater Special Dividend” for a total value of approximately C$44 million (€32 million) to be paid by Breakwater for a total transaction value of C$663 million (€473 million).

Belgian-based Nyrstar is a leading global multi-metals business, producing significant quantities of zinc and lead as well as silver, gold and copper.  Breakwater is a mining, exploration and development company which produces and sells zinc, copper, lead and gold concentrates to customers around the world. Breakwater’s concentrate production is derived from three mines in Chile, Honduras and Canada.