Magnitogorsk Iron and Steel Works, Open Joint Stock Company announces execution of a contract for purchase of 50% minus one share in MMK ATAKAS METALURJI SANAYI TICARET VE LIMAN ISLETMECILIGI ANONIM SIRKETI aimed at the consolidation of 100% shares i
Attorneys-at-law of Andrey Gorodissky&Partners law firm performed as the global coordinators of a legal consulting project focused on advising Magnitogorsk Iron and Steel Works, Open Joint Stock Company (MMK OJSC) on the preparation, negotiation and execution by MMK OJSC of a contract for purchase of 50% minus one share in MMK ATAKAS METALURJI SANAYI TICARET VE LIMAN ISLETMECILIGI ANONIM SIRKETI (the Company), targeted at the consolidation by MMK OJSC of 100% of shares in the Company. The transaction amount was 485 million US dollars. Under the project we counseled the client on the structuring of the transaction, negotiation of its business terms and conditions, required third parties’ permits and consents. Besides, our law firm attorneys-at-law directly represented MMK OJSC in course of working-out of terms and conditions of transactional documents, discussion and adjustment of contractual documents with the seller and attended signing of such documents. Noteworthy in this respect is that MMK OJSC engaged our law firm as legal counsels for the purchase of 50% minus one share in the Company as a follow-up to and in conjunction with the initial transaction of 2007, with regard to which our attorneys-at-law counseled MMK OJSC on entering into the project and acquisition of the 50% plus one share in the Company.