Firm Advises Turkey’s Yildirim Group in Acquisition of Coal-Mining Assets in Colombia

February 4, 2014
CCX Carvao da Colombia SA, the coal unit of Brazilian entrepreneur Eike Batista, agrees to sell its Colombian coal-mining assets to Willkie client Yildirim Holding A.S. for $125 million.

On February 3, it was announced that CCX Carvao da Colombia SA, the coal unit of Brazilian entrepreneur Eike Batista, has agreed to sell its Colombian coal-mining assets to Willkie client Yildirim Holding A.S. for $125 million.  Turkey based Yildirim is buying two open-pit coal mines (Cañaverales and Papayal) one underground mine (San Juan), as well as a railroad and port logistics project from CCX's Colombian subsidiary, CCX Colombia SA.  The underground San Juan mine is said to have one of the world's five largest coal deposits. With more than 6,000 employees on 5 continents, Yildirim Group is one of the leading globally diversified industrial groups in Turkey.  Willkie has advised the company in several transactions in Latin America.

The current deal was handled by partner Maria-Leticia Ossa Daza and associate Carlos F. Barnard Villalba.