Ogier London has acted as BVI legal advisor to the Solway Investment Group and its affiliates ("Solway") on the acquisition of 100% of the interests of Hudbay Minerals Inc. and its affiliates ("Hudbay") in the Fenix ferro-nickel project in Guatemala (the "Fenix Project").

The aggregate purchase price for the transaction was US$170 million of which HudBay received US$140 million in cash from Solway at closing and an additional US$30 million in cash will be payable by Solway upon the satisfaction of certain conditions during the course of Solway's development of the Fenix Project.

Solway Investment Group is a private equity investor which holds interests in a number of diversified companies with core activities in mining, non-ferrous metals, chemicals, the cement industry and real estate.

Simon Dinning, Managing Partner of Ogier's London office, said: "We are delighted to have been involved in this significant acquisition in the natural resources space. Ogier continues to be a leading offshore adviser in this active sector with notable experience across each of our jurisdictions."