Asters Advises Severstal-Metiz on Enhancing its Majority Equity in Dniprometiz

Asters acted as a Ukrainian legal counsel to Severstal-Metiz in connection with USD 16 million acquisition of 34.6% of shares in OJSC Dniprometiz, Ukraine's largest metal products producer, from TAS group. The deal brought Severstal-Metiz’s total holding in the company close to 95%, and enabled it to reinforce its dominant position in the metal products market.

Before the latest deal, Severstal Metiz owned a 60% plus one share stake in Dneprometiz. Asters provided full-service legal support, including merger clearance with the Antimonopoly Committee of Ukraine, in relation to the transaction in February 2006.

Asters’ team on the recent transaction consisted of partner Igor Svechkar and senior associate Leonid Antonenko, who were assisted by associates Illya Onyschenko and Myroslav Molnar.