Teck Cominco Acquires Global Copper in $415M Cash and Stock Deal

On August 1, 2008, Teck Cominco Limited completed the acquisition of Global Copper Corp. by way of plan of arrangement for aggregate proceeds of approximately $415 million payable in cash and Class B subordinate voting shares of Teck. Global's principal asset is the Relincho project in Chile. Substantially all of Global's other assets, including Global's interest in the Taca Taca and San Jorge properties in Argentina, a specified amount in cash and a 1.5 per cent net smelter return royalty in respect of the Relincho project have been transferred to a new company named Lumina Copper Corp. pursuant to the plan of arrangement.

Teck Cominco Limited was represented by Peter Rozee, its senior vice president, commercial affairs, and by Lang Michener LLP in Canada with a team in Toronto that included Hellen Siwanowicz, Patrick Phelan, Carl De Vuono and Greg McIlwain (securities and corporate); James Musgrove and Daniel Edmondstone (competition); and a team in Vancouver that included Tom Theodorakis and Sean O'Neill (corporate); Peter Reardon (litigation); and Michael Taylor (US securities).

Blake, Cassels & Graydon LLP acted as Canadian tax counsel to Teck Cominco with a team in Vancouver that included Bruce Sinclair, Kevin Zimka and Kirsten Kjellander (tax). Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as American tax counsel to Teck Cominco with a team that included David R. Sicular and Mashiho Yuasa (tax).

Global Copper was represented by Robert Pirooz, its secretary, and in Canada by Borden Ladner Gervais LLP with a team that included Fred R. Pletcher, Paul Mingay, David Li, Shannon Rattray, Shantela Blaeser and Stephen Robertson (securities and corporate); Douglas Powrie, Larissa Tkachenko, Eva Krasa, Mark Chartrand and Daniel Lang (tax); and Stephen Antle (litigation). Skadden, Arps, Slate, Meagher & Flom LLP acted as American counsel to Global Copper with a team including Riccardo Leofanti, Michael Acedo and Ryan Dzierniejko. In Chile, Global Copper was represented by Francisco Vergara of Vergara & Compania (corporate) and Carlos Perez-Cotapos and Pedro Deutsche of Cariola, Diez, Perez-Cotapos & Cia Ltda. (tax).