Clifford Chance celebrates $14bn Chinalco corporate coup
Clifford Chance has won a high-profile mandate to advise the Aluminium Corporation of China (Chinalco) on its joint acquisition with Alcoa of a 12% stake in Rio Tinto for around $14bn. Linklaters is acting for regular client Rio Tinto. The magic circle firm is advising the mining giant on BHP Billiton’s $100bn approach for Rio, made late last year, and also acted for the company on its $34bn bid for Alcan last summer. Alcoa has turned to Wachtell Lipton Rosen & Katz for corporate advice and Cleary Gottlieb Steen & Hamilton for competition.
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