We are advising MMC on the transaction

Davis Polk is advising Mongolian Mining Corporation (MMC) on the sale of 20% of its indirect equity interest in Khangad Exploration LLC (KEX) to Jiayou International Logistics Co., Ltd (JIA), for an aggregate consideration of $88.81 million. In connection with the transaction, MMC Baruun Naran S.a.r.l, the subsidiary of MMC that holds the equity interest in KEX; JIA; and KEX have entered into a joint venture agreement. MMC and JIA also entered into a marketing agreement in relation to the supply of coal products.

MMC is listed on the Hong Kong Stock Exchange and is the largest producer and exporter of high-quality washed hard coking coal in Mongolia.

JIA is listed on the main board of the Shanghai Stock Exchange and is principally engaged in domestic and international multimodal transport, logistics infrastructure investment and operation and supply chain trade.  

The Davis Polk corporate team includes partners Gerhard Radtke and Yang Chu, counsel Sam Kelso and Vanessa Chan and registered foreign lawyers Rebecca Yang and Stephanie Mak. All members of the Davis Polk team are based in the Hong Kong office.

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