• BHP Billiton Sells Navajo Mine Coal Company to Navajo Nation
  • March 28, 2014
  • Law Firm: Modrall Sperling - Albuquerque Office
  • On December 30, 2013, working shoulder to shoulder with its client BHP Billiton New Mexico Coal, Inc. and co - counsel, Modrall Sperling completed a series of interrelated transactions between BHP Billiton New Mexico Coal, Inc. (BBNMC) and its subsidiaries and the Navajo Nation and Navajo Transitional Energy Company, LLC (NTEC), a wholly owned enterprise of the Navajo Nation. The successful closing followed execution of confidentiality agreements and a non - binding term sheet or memorandum of understanding, lengthy due diligence efforts, detailed discussion of risk allocation and creative deal structuring, the crafting of several agreements and related documents, and the navigation of Navajo Nation legislative and executive approval processes to ensure the enforceability of the transactions with sovereign entities.