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10 January 20223 minute read

DLA Piper advises Russian coal producer Raspadskaya on demerger from Evraz

DLA Piper is advising Raspadskaya, one of Russia’s largest coal mining and enrichment companies, listed on the Moscow Exchange, on its demerger from Evraz, a global steel and mining company which is listed on the London Stock Exchange FTSE100 index.

Raspadskaya currently provides approximately 70% of Evraz’s metallurgical coal supply requirements needed to support its operations. The demerger will result in the creation of two distinct publicly listed businesses with leading positions in their respective fields. The demerger will be effected by Evraz making an interim in specie distribution of the shares it directly holds in Raspadskaya (being approximately 90.9% of the total ordinary shares in Raspadskaya) to Evraz shareholders.

DLA Piper’s Moscow-based Corporate team is led by partner Julien Hansen, supported by counsel Alexander Klochkov, senior associate Irina Samoylova, associates Yulia Berezina and Alexander Mysov. Tax partner Igor Venediktov and senior associate Zaurbek Timaev are also involved in the transaction.

Commenting, Julien Hansen said: “The demerger of Raspadskaya from Evraz is both complex and one of the largest transactions in 2021 in Russia. That we were chosen to advise on the deal speaks volumes to the strength, depth and quality of our corporate and capital markets teams as well as our expertise in the Russian coal sector.”