Katanga Completes Merger With Nikanor

On January 11, 2008, Katanga Mining Limited announced that its take-over bid for AIM listed mining company Nikanor PLC was declared wholly unconditional as a result of over 90 per cent of the outstanding Nikanor shares having been tendered to the offer and that Katanga was proceeding to acquire 100 per cent of Nikanor pursuant to a compulsory acquisition transaction. The acquisition results in the creation of one of the world's largest cobalt and copper producers.

On July 11, 2007, AIM listed Central African Mining and Exploration Company PLC (“CAMEC”) announced that it would proceed with an offer to purchase all of the issued and outstanding Katanga shares for shares of CAMEC valuing Katanga at approximately US$1.56 billion. On August 29, 2007, CAMEC commenced a formal take-over bid for Katanga. On August 30, 2007, the Ministry of Justice in the Democratic Republic of Congo revoked the permits relating to CAMEC's material concessions and on September 6, 2007, CAMEC formally withdrew its unsolicited take-over bid for Katanga.

On November 6, 2007, Katanga and Nikanor announced that they had reached an agreement on the terms of a recommended merger transaction to create a company with the potential to become Africa's largest copper producer and the world's largest cobalt producer by 2011. The merger was implemented by way of a take-over bid for Nikanor shares on the basis of 0.613 Katanga shares and US$2.16 in cash (by way of a cash return by Nikanor) for each Nikanor shares held, for aggregate consideration to the Nikanor shareholders of approximately US$2.7 billion.

Katanga's Canadian counsel was Cassels Brock & Blackwell LLP with a team led by Paul Stein that included Jeffrey Roy, Jay King and Christine Gallo (securities), and Chris Norton (tax).
Katanga's UK counsel was Norton Rose LLP with a team led by Mark Bankes that included Raj Karia, Monique Fry, Megan O'Leary, Kate Hargreaves and Steven Moe. Katanga's Bermuda counsel was Appleby led by James Bodi.

Nikanor's Canadian counsel was Stikeman Elliott LLP with a team that included Derek Linfield, Marc Barbeau and David Massé (securities) and Tom Vowinckel (tax). Nikanor's UK counsel was Linklaters LLP with a team led by Charles Jacobs that included Brian Parsons, Robert Cleaver, Chin Yeoh and Scott Eddington. Nikanor's Isle of Man counsel was Cains Advocates Limited led by Tristan Head.


David Massé Jeffrey P. Roy Paul M. Stein Christine Gallo Marc B. Barbeau Christopher B. Norton Thomas Vowinckel Jay King


Norton Rose Fulbright LLP Stikeman Elliott LLP Linklaters LLP