Dewey helps Arcelor enter Russian market

Dewey & LeBoeuf has advised ArcelorMittal, the world’s largest steel company, on the purchase of three Russian coalmines.

The $720m (£361.73m) deal represents the steel giant’s first significant move into the fast-growing Russian market.

Dewey & LoBoeuf partner Jon Hines, the relationship partner on the project, said: “The deadlines were challenging but we were able to provide seamless round-the-clock support from Moscow, London and Hong Kong.” The mines, all located in the Kemerovo region, were owned by a subsidiary of Russian steel company SeverStal.

Freshfields Bruckhaus Deringer acted for Severstal. The acquisition, subject to regulatory approval, was announced on 31 January. The three mines have a combined total coal reserve of 186 million tonnes, representing a significant investment for ArcelorMittal.

They will yield some three million tonnes of saleable coal per annum.