Law Firm YUST has successfully represented owners of Mechel preferred shares in an SPO

Law Firm YUST has successfully represented the interests of James C. Justice II, James C. Justice III, James C. Justice Companies Inc. and Jillean L. Justice (the Selling Shareholders) in an SPO of Mechel preferred shares in collaboration with US counsel Frost Brown Todd.

On May 12, 2010, the transaction on placement of 15’250’000 preferred shares of Mechel OAO in the form of ADSs for a total amount of 228’750’000 USD was closed. Underwriters and book runners for this placement were Morgan Stanley and Renaissance Capital.

In course of the placement, YUST acted as the Russian counsel for the Selling Shareholders together with its Multilaw partner Law Firm Frost Brown Todd LLC, US counsel for the Selling Shareholders. In particular, YUST Law Firm took care of the mandatory Russian offering accompanying the placement and of the legal opinion on the title of the Selling Shareholders over the Mechel preferred shares.

At YUST Law Firm, Artem Kukin, partner, Evgeny Zhilin, associated partner, Tatiana Starikova, attorney-at-law, as well as Marina Bilyk and Igor Kostennikov, associates, worked on this mandate. At Frost Brown Todd, Greg Mitchell, Paul Sullivan, James Giesel and Holly Powell have participated in the transaction.