Pretivm To Be Acquired by Newcrest in $2.8 Billion Deal

Paul, Weiss is advising Vancouver-based Pretium Resources Inc. (Pretivm) in its cash-and-stock sale to Australia-based Newcrest Mining Limited. Pretivm is an intermediate gold producer and 100% owner of the high-grade gold underground Brucejack Mine, located in northwestern British Columbia. Newcrest engages in the exploration, development, mining and sale of gold and gold-copper concentrate.

The total equity value of the transaction is approximately CDN$3.5 billion or US$2.8 billion. Under the terms of the deal, Pretivm shareholders will have the option to elect to receive CDN$18.50 per Pretivm share in cash or 0.8084 Newcrest shares per Pretivm share, representing a share consideration of CDN$18.50. 

The transaction is expected to be completed in the first quarter of 2022, subject to Pretivm shareholder, court and regulatory approvals and other customary closing conditions. 

The Paul, Weiss team includes, among others, corporate partner Adam Givertz and counsel Stephen Centa; and executive compensation partner Jean McLoughlin.