Jan. 30, 2020 - In our annual Tax Review and Outlook report, we look back at significant developments that shaped the Canadian and U.S. tax landscapes in 2019 and offer our predictions on what to expect in the year ahead. Key Canadian Developments in 2019 Proposed changes to the employee stock option rules...
Barrick Gold Announces Three-Way Transaction with Goldcorp and Kinross
Davies acted for Barrick Gold in its announced, highly complex three-way transaction with Goldcorp and Kinross Gold. This transaction involved Barrick’s sale of its 25% stake in the Cerro Casale Project to Goldcorp and Goldcorp’s acquisition of Kinross’s entire 25% interest in the Cerro Casale Project. The transaction also included the negotiation of a 50/50 regional joint venture between Barrick and Goldcorp in the Cerro Casale, Quebrada Seca and Caspiche projects in Chile’s Maricunga district.
Goldcorp committed to fund Barrick’s first US$260 million of expenditures on these projects following the formation of the joint venture and also funded the joint venture’s acquisition of a 100% interest in the Quebrada Seca property from Kinross.
The Davies team worked closely with Barrick on this transaction and included Melanie Shishler, Richard Fridman, Jennifer Grossklaus, Evan Griffith and Jeffrey Li (Mining and M&A), Geoffrey Turner (Tax), Sarah Powell (Environmental) and John Bodrug and Jim Dinning (Competition).
Jan. 30, 2020 - Review of U.S. Tax Developments in 2019 In 2019, the U.S. tax world continued to be primarily concerned with developing guidance under the monumental Tax Cuts and Jobs Act (TCJA), which was enacted at the end of 2017. Major regulatory projects were proposed beginning in 2018,...