An S&C deal, the restructuring of the Ambatovy Project, an $8 billion nickel and cobalt mining enterprise in Madagascar, was named “Africa Refinancing Deal of the Year” at the 2021 IJGlobal Awards. Ambatovy is the largest foreign investment in Madagascar and one of the largest in sub-Saharan Africa. The complicated restructuring was negotiated while the Project was on care and maintenance due to COVID-19 restrictions, and established a stable and sustainable basis to continue operations. S&C has previously advised the Ambatovy Project and its shareholders in relation to its award-winning original project financing, and multiple previous debt and equity restructurings.
The multi-jurisdictional S&C team advising Ambatovy was led by Stewart Robertson and Jonathon Hannah, and included Silvia Brünjes, Anna Chirou, Matthew Squire and Lillie Peichl. Chris Howard and Nick Berkeley advised on certain English law restructuring aspects.
The IJGlobal Awards recognize excellence in energy and infrastructure transactions.