Richard Fridman
Richard Fridman
(416) 367-7483
(416) 863-0871
155 Wellington St W, Toronto, ON
Year called to bar: 1997 (QC); 2000 (New York); 2002 (ON)
Richard is a partner practising in the mergers & acquisitions and corporate practices, with particular expertise in the mining and energy industries. His focus is on all aspects of public M&A, representing clients on both the buy- and sell-side of friendly and hostile acquisition transactions, as well as assisting clients with the acquisition and disposition of businesses and assets in private M&A. In addition, He regularly advises public company boards and executives on the ever-changing corporate governance landscape. Richard works extensively with resource clients whose assets span the globe, and has been engaged on files in North and South America, Africa, Australia, and Europe. His client list includes major producers, junior exploration companies, and private equity firms operating in the mining space. He has vast experience assisting these clients with their public and private M&A activity, joint ventures, earn-in arrangements, financing needs (including metals streaming transactions), royalties, and off-take arrangements. Before joining Davies, Richard served as a clerk to Mr. Justice Charles D. Gonthier of the Supreme Court of Canada. Select Recognition: The Legal 500 Canada; Lexpert® Special Edition — Mining; Canadian Lexpert® Directory; Best Lawyers in Canada.
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New Gold Inc. completed the sale of the Blackwater Project located in British Columbia to Artemis Gold Inc.
Barrick Gold Corporation and Newmont Goldcorp Corporation completes a joint venture
On December 17, 2015, subsidiaries of Waterton Precious Metals Fund II Cayman, LP completed the acquisition of Barrick Gold Corporation's 70 per cent interest in the Spring Valley project and 100 per cent of the Ruby Hill mine for a total of $110 million in cash.
On August 31, 2015, Zijin Mining Group Co., Ltd., one of China’s largest gold producers, completed the acquisition from Barrick Gold Corporation of a 50 per cent stake in Barrick (Niugini) Limited (the holder of a 95 per cent interest in the Porgera gold project in Papua New Guinea) for US$298 million in cash, through Gold Mountains (H.K.) International Mining Company Limited, its wholly owned subsidiary. The parties also entered into a shareholders agreement with respect to the newly formed joint venture and a separate strategic cooperation arrangement relating to future potential joint initiatives.
Fortis Inc. acquired all of the outstanding shares of UNS Energy Corporation for an aggregate purchase price of approximately US$4.5 billion, including the assumption of approximately US$2 billion of debt. The acquisition was financed by a US$2-billion non-revolving acquisition term credit facilities and a US$1.8 billion offering of convertible subordinated debentures represented by instalment receipts. The offering consisted of a bought deal public offering of approximately US$1.6 billion and a concurrent private placement of approximately US$200 million.