CoreX Resources Acquires Majority Shares in CMB
Deal News | Feb 27, 2025 | CEE Legal Matters
Erdem & Erdem, in collaboration with Morgan Lewis and ADNA, has successfully advised CoreX Resources on its strategic acquisition of a majority stake in Compagnie Miniere Du Bafing (CMB), an Ivorian nickel producer, marking a significant investment in Africa's mining sector. The transaction also involves the State of Cote d'Ivoire and SODEMI holding minority interests. The move is seen as a major leverage point for CoreX Resources to strengthen its footprint in the African mining industry, particularly in nickel production. Erdem & Erdem provided a strong legal team comprising Partner Ozgur Kocabasoglu, Managing Associate Melissa Balikci Sezen, and Associate Nil Gulyasar, ensuring a smooth transactional process.
Sectors
- Mining
- Legal Services
Geography
- Cote d'Ivoire – Compagnie Miniere Du Bafing operates in Cote d'Ivoire, making this location central to the acquisition.
- Africa – The acquisition takes place within the African continent, emphasizing the regional focus on African mining resources.
Industry
- Mining – The acquisition involves Compagnie Miniere Du Bafing, which operates nickel mining projects in Cote d'Ivoire, highlighting the mining industry.
- Legal Services – Erdem & Erdem, along with other legal advisors, played a crucial role in the legal aspects of the acquisition.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| CoreX Resources | Bidding Company | Company | CoreX Resources is the acquiring company, taking a majority stake in CMB. |
| Compagnie Miniere Du Bafing | Target Company | Company | CMB is an Ivorian company specializing in nickel mining, operating key projects in Cote d'Ivoire. |
| Erdem & Erdem | Legal Advisor | Company | Erdem & Erdem provided legal advisory services to CoreX Resources for the acquisition. |
| Morgan Lewis | Legal Advisor | Company | Worked alongside Erdem & Erdem to advise CoreX Resources on the acquisition. |
| ADNA | Legal Advisor | Company | Provided additional legal support for the acquisition of CMB. |
| State of Cote d'Ivoire | Equity Holder | Government | Holds a 10% interest in CMB as part of the acquisition deal. |
| SODEMI | Equity Holder | Company | Holds a 5% interest in CMB as part of the acquisition deal. |
| Wallace | Seller's Advisor | Company | Reportedly advised the sellers in the transaction. |