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Tauil & Chequer acts as lead deal counsel for Mir Steel UK Limited on a US$ 800 million transaction for the formation of a Joint Venture with USIPAR – Usina Siderúrgica do Pará Ltda.

18 March 2011

Tauil & Chequer Advogados, in association with Mayer Brown, served as lead deal counsel for Mir Steel Uk Limited, a steel company based in the United Kingdom and owned by the Russian billionaire Mr. Zyuzin, in a US$ 800 million deal for the formation of a Joint Venture with USIPAR – Usina Siderúrgica do Pará Ltda.

Since the transaction involved companies established in England, the cooperation and assistance of Mayer Brown London were also fundamental to the perfect closing of the deal.

The closing occurred in the end of 2010 and was announced to the market in February 2011. It represented the first business of the Russians in Latin America. The success of the project, which involves  a US$ 5 billion investment, will certainly contribute for the expansion of the Russians in the steel sector and its rapid growth in emerging markets.

“The M&A practice of the Brazilian team was essential to reflect the interests of the Russians in a Brazilian scenario, and assure the efficient of such a large transaction,” said the partner Alexandre Chequer, who led the Mayer Brown team. 

In addition to Alexandre Chequer, the Tauil & Chequer team in Brazil advising Mechel included: Corporate & Securities – Rio de Janeiro partner Francisco Rohan and associates Salim Saud and Luciana Gomes; Tax Transactions– Rio de Janeiro partner Ivan Tauil and associate Roberta Caneca.

In Mayer Brown London office the team included: Corporate & Securities London partner Robert Hamil and associate Edwina Palmer; Tax Transactions – London partner James Hill and solicitor Stephen Green.

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