On January 18, 2014, a China National Nuclear Corporation (“CNNC”) subsidiary signed an agreement with a subsidiary of Australia’s Paladin Energy Ltd. that CNNC would acquire a 25% stake in Langer Heinrich Mine owned by Paladin with US$190mln. On July 15, CNNC stroke a deal with the Industrial and Commercial Bank of China that the bank would make loans to CNNC to support the acquisition. On July 23, the transaction was duly delivered.
A Dacheng team led by Beijing-based senior partner Yang Guisheng coordinated attorneys from Australia, Mauritius, Namibia and Hong Kong to ensure financing for CNNC and smooth delivery of the deal. Their professional, effective service and world-wide coordinating skill were highly recognized by CNNC leaders and project members who expressed willingness for further cooperation.
CNNC is a well-known nuclear power corporation authorized to develop, build and operate nuclear power plants in China. It controls the majority of China’s nuclear business, including R&D, engineering, construction, nuclear power generation, nuclear exploration, nuclear energy enrichment, spent fuel reprocessing and nuclear waste disposal in over a hundred subsidiaries located in more than twenty provinces, autonomous regions and municipalities. CNNC does business with more than forty foreign countries.
Paladin Energy Ltd, headquartered in Perth in Western Australia, is listed on the stock exchanges of Australia, Canada and Namibia. The world’s leading uranium supplier, Paladin focuses on uranium mine exploration, project development and uranium mine operation. During the past two decades, it has become the world’s only miner of two modern conventional uranium mines. Moreover, its Namibia-based Langer Heinrich Mine and Malawi-based Kayelekera Mine are thought to have successfully adopted state-of-the-art mining technologies.
The team led by Yang also included attorneys Zhang Ting, Gong Haiyan, Li Yang, Zhu Biyun, Wang Yixuan, Zhang Zhiming and Yang Haoran.
Beijing Dacheng Law Offices, LLP ("大成") is an independent law firm, and not a member or affiliate of Dentons. 大成 is a partnership law firm organized under the laws of the People’s Republic of China, and is Dentons' Preferred Law Firm in China, with offices in more than 50 locations throughout China. Dentons Group (a Swiss Verein) ("Dentons") is a separate international law firm with members and affiliates in more than 160 locations around the world, including Hong Kong SAR, China. For more information, please see dacheng.com/legal-notices or dentons.com/legal-notices.
