Shearman & Sterling represented Sterlite Industries (India) Limited in its new March 6, 2009 agreement to purchase substantially all of the operating assets of ASARCO LLC for US$1.1 billion in cash and a US$600 million note. The agreement is subject to the approval of the U.S. Bankruptcy Court for the Southern District of Texas, Corpus Christi Division.

Sterlite, a subsidiary of Vedanta Resources plc, is India’s largest non-ferrous metals and mining company, with interests and operations in aluminum, copper, zinc and lead. ASARCO is an integrated copper mining, smelting and refining company, which operates mines, mills and a smelter in Arizona and a smelter and refinery in Texas.

The Shearman & Sterling team was led by partners Douglas Bartner (New York-Bankruptcy & Reorganization) and William Roll III (New York-Litigation) and associates Nora Pines (New York-Mergers & Acquisitions) and Gaurav Sud (New York-Mergers & Acquisitions).

For additional information contact: Ron Brandsdorfer | New York | T +1.212.848.5081 |