Steve Malas

Norton Rose Fulbright Canada LLP

Steve Malas

Steve Malas



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, with a particular focus on the mining sector. 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 project 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:

  • Enerkem Inc. with a $280 million investment round comprising equity and debt with new investors BlackRock and Chinese-based Sinobioway and certain existing investors
  • Metro Inc. 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
  • 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 $12.30 per share in cash, for a total consideration of $875 million
  • Rona Inc. in connection with the friendly acquisition by Lowe's Companies Inc. of Rona by way of plan of arrangement under the Business Corporations Act (Québec) for C$3.2 billion. Under the deal, Lowe's acquired all of the issued and outstanding common shares of Rona for $24 a share in cash
  • 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
  • La Mancha Group in connection with the sale of assets to and 30% equity investment in Endeavour Mining Corporation, and also in connection with Endeavour’s merger by way of plan of arrangement with True Gold
  • Turquoise Hill Resources in its US$4 billion project financing for the Oyu Tolgoi Project, and its US$2.4 billion rights offering and bridge facilities with Rio Tinto in an aggregate amount of US$825 million
  • Turquoise Hill Resources in the disposition of its interest in Oyut Ulaan LLC in Mongolia, a copper‑gold project, and the sale of its stake in SouthGobi Resources, an integrated coal mining, development and exploration company operating in Mongolia
  • Yellow Pages Limited in its C$50 million acquisition of ComFree/DuProprio and exclusive licensing deal and investment in MyTime
  • The special committee of the board of directors of Manac Inc. with its acquisition by a group of investors controlled by Manac Inc.'s founder for approximately C$186 million
  • Acritas Stars 2019 – Designated as an "Independently rated lawyer"  
  • Canadian Legal Lexpert Directory, 2018: recommended in Corporate Finance & Securities; 2019: recommended in Mining
  • IFLR (International Financial Law Review) 1000The Guide to the World’s Leading Financial Law Firms – Leading lawyer in mergers and acquisitions
  • Acritas StarsTM  2017 and 2018 – Designated as a "Star" lawyer by a panel of over 4,300 clients
  • Canadian Bar Association
  • Board of Trade of Metropolitan Montreal
  • Hellenic Board of Trade of Montreal