Dechert Steers Sputtering Miner Mechel To $425M Asset Sale

Law360, New York (August 1, 2013, 11:56 AM EDT) -- Russian mining and metals giant Mechel OAO will send a bundle of its ferroalloys assets to Turkey's Yilidrim Group in a $425 million deal meant to help reduce its debt load and generate extra cash for new projects, the company said Thursday.

The transaction covers a Kazakh mining plant that Mechel has said holds more than 22 million tons of probably chrome ore reserves, which will help cement Yilidrim's position as Turkey's main chrome ore producer. It also includes a facility in Russia that produces ferroalloys,...
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