RBC Capital Markets Advises Arcelormittal On US$810m Acquisition of London Mining Brasil and on Partnership With Adriana Resources Inc. for Brazilian Port Facility

 

London, 20 August 2008 - RBC Capital Markets, the corporate and investment banking arm of Royal Bank of Canada (TSX: RY; NYSE: RY), has acted as exclusive financial adviser to ArcelorMittal, the world's largest steelmaker, on its acquisition of London Mining South America Limited ("London Mining Brasil"), a Brazilian iron ore producer, from Oslo listed London Mining plc for a total consideration of approximately US$810 million.

 

In parallel with this transaction, RBC Capital Markets has advised ArcelorMittal on the creation of a partnership with Canadian based Adriana Resources Inc. ("Adriana") for the development of an iron ore port facility in the State of Rio de Janeiro, Brazil.  ArcelorMittal will acquire 80% of the port as well as up to 19.9% of Adriana through two private placements (subject to the receipt of necessary approvals).

 

Commenting for RBC Capital Markets, Richard Horrocks-Taylor, Managing Director, Investment Banking Europe said: "RBC continues to be very active in cross-border metals and mining deals despite difficult markets. RBC's role as exclusive financial adviser to ArcelorMittal demonstrates our growing credentials in the bulk commodities sector and, in particular, our specialised expertise in bridging the gap between the major strategic players and junior mining companies worldwide."

 

 

Media Enquiries:

 

Greentarget, London

Anna Watson / Melissa Rowling

Telephone: +44 (0)20 7680 5052 / 5051

 

RBC Capital Markets

Louisa Fairman / Beverley Weber

Telephone: +44 (0)20 7029 7821 / 7685

 

About RBC Capital Markets

RBC Capital Markets is the corporate and investment banking arm of RBC and the 12th largest investment bank in the world (Bloomberg, April 2008).  RBC Capital Markets is active globally in fixed income, foreign exchange, infrastructure finance, metals, mining and energy. RBC's international fixed income and treasury businesses are managed from London, which is the centre of a 24-hour trading platform with major hubs in Toronto, New York and Sydney. 

 

RBC Capital Market's global Metals and Mining investment banking team advises metals and mining companies worldwide. RBC Capital Markets covers the full spectrum of metals and minerals and has one of the largest global Metals and Mining equity sales and research teams of any investment bank. RBC's investment banking, base metals and commodity sales and trading specialists operate out of London, New York, Sydney, and Toronto.  RBC is a member of the London Metal Exchange and is a Nominated Advisor on the London Alternative Investment Market.  For more information, please visit www.rbccm.com

 

About RBC

RBC (RY on TSX and NYSE) is Canada's largest bank as measured by assets and market capitalisation (assets of C$627 billion and market capitalisation of C$62 billion as at 30 April 2008) and ranks among the top 25 banks in the world (#20 at 10/7/08 RBC is the 5th largest financial institution in North America with over 75,000 employees globally, serving more than 16 million personal, business, public sector and institutional clients through offices in 47 countries around the world. RBC has a Tier 1 capital ratio of 9.5% and senior debt ratings of Aaa (Moody's), AA- (S&P), AA (Fitch). RBC has been named the safest financial institution in Canada and 3rd safest in North America (Global Finance, 1999-2007). For more information, please visit www.rbc.com