Paulson and NOVAGOLD RESOURCES INC. acquire Barrick Gold Corp.’s 50% stake in Donlin Gold LLC for US$1 billion
Goodmans LLP advised Paulson & Co Inc. in connection with a backstop financing commitment entered into as part of its agreement to jointly acquire with NOVAGOLD RESOURCES INC. a 50% interest in Donlin Gold LLC from Barrick Gold Corporation for US$1 billion in cash.
At closing, Paulson acquired a 40% interest in Donlin Gold for US$800 million and NOVAGOLD acquired an additional 10% interest for US$200 million, increasing its stake to 60%. Both parties entered into a new limited liability company agreement for the equal management of the Donlin Gold project in Alaska.
Paulson is a private global investment management advisory firm based in Palm Beach, Florida.Featured Work
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