Steve Malas

Senior Partner
Norton Rose Fulbright Canada LLP

Steve Malas

Steve Malas


Related services and key industries


Steve Malas practises in the area of corporate finance and securities, mergers and acquisitions, privatizations and corporate governance.

He has extensive experience in M&A transactions, acting for both buyers and sellers in public and private transactions and advising boards of directors and special committees in such transactions. He also acts in Canadian and Canada/US cross-border offerings and private placements on behalf of issuers and underwriters. Mr. Malas frequently advises on directors’ and officers’ liability, governance issues, continuous disclosure obligations and matters relating to shareholder relations and engagement, and has worked on complex financing and joint venture transactions for the development of mining projects in Canada and abroad.

Professional experience

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B.C.L./LL.B., McGill University, 1989

  • California State Bar 1992
  • Quebec 1991

Mr. Malas has advised the following clients, among others:

  • Investissement Québec in connection with (i) the filing by Nemaska Lithium Inc. and its affiliates for protection under the Companies' Creditors Arrangement Act (CCAA), and (ii) the filing by Cirque du Soleil and its Canadian and US affiliates for protection under the CCAA
  • Investissement Québec, the government of Quebec's principal economic development vehicle in its investment in Flying Whales, a French-based developer for airships for the industrial sector
  • Stornoway Diamond Corporation in its $946 million comprehensive financing transaction with US private equity firm Orion Mine Finance, Investissement Québec, and the Caisse de dépôt et placement du Québec to fund the construction of the Renard Diamond Project, Quebec's first diamond mine; and the subsequent restructuring of Stornoway under the CCAA
  • Turquoise Hill Resources Ltd. on various corporate and governance matters, including a binding heads of agreement with Rio Tinto providing an updated funding plan for the Oyu Tolgoi Project, the US$4.4 billion project financing for the Oyu Tolgoi Project, and a US$2.4 billion rights offering and bridge facilities with Rio Tinto in an aggregate amount of US$825 million
  • Osisko Gold Royalties Ltd in connection with its acquisition of royalties over the Spring Valley and Moonlight projects in Nevada and a precious metals offtake over the Almaden project in Idaho, and the acquisition of the San Antonio gold project in Sonora, Mexico
  • Semafo Inc. in connection with its acquisition of all the issued and outstanding shares of Savary Corp. by way of a three-cornered amalgamation
  • Arianne Phosphate Inc. in connection with the development of its Lac-a-Paul project, an open-pit phosphate mine with an annual capacity of 3 million tonnes of phosphate concentrate
  • Metro Inc. in connection with its acquisition by way of a combination agreement pursuant to which Metro acquires all of the outstanding Jean Coutu Group class A subordinate shares and Class B shares for $24.50 per share, representing a total consideration of approximately $4.5 billion
  • Rona Inc. in connection with the friendly acquisition by Lowe's Companies Inc. of Rona by way of a plan of arrangement for C$3.2 billion
  • The committee of independent directors of Canam Group Inc. in connection with the acquisition by the Dutil family and American Industrial Partners of all of the issued and outstanding shares of Canam Group for a total consideration of $875 million
  • Best Lawyers in Canada: Mining Law, 2022-2024; Corporate Law, 2024
  • Lexpert Special Edition: Finance and M&A, 2023: Leading Lawyer in Finance and M&A
  • Canadian Legal Lexpert Directory, 2018-2023: recommended in Corporate Finance & Securities; 2020-2023: recommended in Corporate Mid-Market; 2019-2023: recommended in Mining; 2023: recommended in Mergers & Acquisitions
  • Acritas StarsTM  2019-2021 – Designated as an "Independently rated lawyer"
  • Acritas StarsTM 2017 and 2018 – Designated as a "Star" lawyer by a panel of over 4,300 clients
  • IFLR (International Financial Law Review) 1000The Guide to the World's Leading Financial Law Firms – Leading lawyer in mergers and acquisitions
  • Canadian Bar Association
  • Board of Trade of Metropolitan Montreal
  • Audit Committee, Hellenic Community of Greater Montreal