Latham & Watkins Advises on Demerger of PJSC Raspadskaya from EVRAZ plc

Capital markets team represents the sole sponsor and joint financial adviser in the transaction.

December 16, 2021

Latham & Watkins is advising the sole sponsor and joint financial adviser in relation to the potential demerger by EVRAZ plc, a London listed leading global producer of steel, iron ore and vanadium, of its metallurgical coal business. The coal business has been consolidated under PJSC Raspadskaya (RASP), a Moscow listed company, the largest coking coal producer in Russia and one of the leading coking coal producers globally. The demerger is a Class 1 transaction under the Listing Rules and is subject to, among other things, approval of the demerger and related matters by EVRAZ's shareholders. The gross assets of RASP were valued at approximately US$2 billion as at 30 June 2021.

The demerger will create two distinct publicly listed businesses with leading positions in their respective fields, allowing EVRAZ and RASP to focus on increased transparency over sustainability performance and goals, and concentrate on their respective sustainability priorities, growth strategies, and sustainable development.

The Latham team is being led by London corporate partner Chris Horton, Moscow partner David Stewart, and London associate Koushik Prasad.

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