News 28 Jul. 2008

Curtis Attorneys Represent Glencore in a Settlement Payable by Century Aluminum Company to Glencore Valued at Approximately $1.82 Billion

Curtis represented Glencore in its recently concluded transaction with Century Aluminum Company involving the unwinding of aluminum hedge contracts for a settlement value of approximately $1.82 billion payable by Century to Glencore. A portion of the settlement value was paid by the issuance to Glencore of Century non-voting preferred stock valued at approximately $1.09 billion which is convertible into 16,000,000 shares of common stock. Partners Matias Vega and Valarie Hing led the corporate department team, with support from associates Oreste Cipolla and Doug Glazer. Tax advice was provided by partners Alan Berlin and Ed Cukier. Litigation advice was provided by partners Eliot Lauer and Jacques Semmelman.