London— Mayer Brown has advised Talbot Group on the sale of a 92.19% equity stake and shareholder loans of Minas de Revuboè Limitada (MdR) to JSW Steel, for approximately $74m.
MdR is a coal mining company based in Tete, Mozambique. It will provide JSW Steel with access to premium hard-coking coal reserves in the region for use in steel production.
Based in Queensland, Australia, the Talbot Group is a privately-owned company operating in the oil and gas, carbon materials and agriculture industries.
Headquartered in Mumbai, India, JSW Steel is one of the largest steel producers in the country. It is part of the JSW Group, which operates in a variety of sectors including steel, energy, infrastructure and cement.
The Mayer Brown team was led by Corporate & Securities consultant Rob Hamill and included associate Alexander Sperling, Finance partner Rachel Speight (all London) and Corporate & Securities partner Paulo Rage (Dubai) and associate Juan Gerolis (Rio – T&C).