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IFLR awards the advisors that took part in the deal

Garrigues wins award for its advice on Mittal’s tender offer for Arcelor

03/20/2007

Garrigues has been awarded ‘M&A Deal of the Year’ by the International Financial Law Review (IFLR) for its advice on Mittal’s tender offer for Arcelor. The Firm advised Mittal Steel Company in connection with the Spanish law issues surrounding its tender offer for all the shares and convertible debentures of Arcelor. Garrigues shares this recognition with the advisors of both companies.

Garrigues has been awarded ‘M&A Deal of the Year’ by the International Financial Law Review (IFLR) for its advice on Mittal’s tender offer for Arcelor. The Firm advised Mittal Steel Company in connection with the Spanish law issues surrounding its tender offer for all the shares and convertible debentures of Arcelor. Garrigues shares this recognition with the advisors of both companies.

Mittal’s advisors, who Garrigues worked shoulder-to-shoulder with, are US firm Cleary Gottlieb (the company’s advisor in France, the Netherlands and Belgium) and law firm Bonn Schmitt Steichen (advisors in Luxembourg). In the driving seat of the deal at Garrigues were partners Javier Ybáñez and Ramon Girbau (corporate/commercial) and Ignacio Calvet (tax). The award ceremony took place last week at The Natural History Museum in London.

The players in this deal were the two steel industry giants: Mittal Steel Company, based in the Netherlands, which was the largest steel producer in the world, and Arcelor, based in Luxembourg, one of the largest groups in the industry, created in February 2002 out of the merger of Aceralia, Arbed and Usinor. Along with the complexity of the deal, another of the factors considered by the IFLR for the award was the sum involved: more than €28,000, making it the largest deal carried out in the steel industry, which has given rise to the Arcelor Mittal group with close to 320,000 employees and producing more than 100 million tons of steel a year.

This is the third award which Garrigues has received from the same publication. The IFLR’s awards are highly prestigious internationally, and one of the best displays of professional recognition that can be gained at present.

 

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