Ashurst and Hogan instructed on steel giant's $2.8bn restructuring
Ashurst and Hogan & Hartson have secured major roles on a $2.8bn (£1.9bn) Russian debt restructuring for embattled steel giant Rusal.The high-stakes deal saw Rusal offer an enlarged stake in its business to Onexim Group in exchange for $2bn (£1.37bn) of debt owed to the latter company. The restructuring, which raises Onexim's stake in Rusal by 4.5% to 18.5%, leaves a remaining $800m (£549m) in debt to be restructured later on.
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