Press Release

Morgan Lewis Advises Sprint Capital on Acquisition of Kazakh Potash Business

Wednesday, July 25, 2012

LONDON, July 25, 2012: Kazakhstan Fertilisers Group Pte Ltd. ("Kazfert"), an investment vehicle managed by Hong Kong-based private equity firm Sprint Capital Management Limited, has entered into an agreement with Satimola Ltd to acquire Satbor LLP, a potash mining and exploration business in Kazakhstan.  The deal value has not been disclosed and the closing of the transaction is subject to regulatory and certain other conditions.

Satbor's operations are based at the Satimola deposit in Western Kazakhstan, and have the capacity to produce over six million tons of potash per year for use in fertiliser production.

In addition, Asia Pacific Resources Development Investment Limited, the parent company of Kazfert, entered into a Notes Subscription Agreement with Satimola Ltd, to provide interim funding to finance completion of the bankable feasibility study, environmental impact survey and basic engineering works.

Morgan Lewis served as legal advisor to Sprint Capital on the transaction. The Morgan Lewis deal team was led by Business & Finance partner Amy Comer. Business & Finance counsel Klara Nurgaziyeva assisted with Business & Finance associates Bauyrzhan Adirbekov, Yermek Umurzakova, Nicholas Nigam and trainee Timothy Slind. Aset Shyngyssov is the Sprint Capital relationship partner.