Clayton Utz has advised leading Brazilian integrated steel manufacturer Companhia Siderurgica Nacional (CSN) on the rights offer and placement of Australian-listed Riversdale Mining, in which CSN is a cornerstone investor.
Under Riversdale Mining’s fully underwritten A$337 million capital raising, CSN has subscribed to shares valued at approximately A$52.6 million.
In late 2009, Clayton Utz advised CSN on its initial investment in Riversdale Mining equating to approximately 16 per cent of total shares in the company.
Clayton Utz’s national Mergers & Acquisitions practice head John Elliott, with senior associate Adrian Beerworth, advised CSN on both transactions.
The capital raising by Riversdale Mining will facilitate accelerated development of its Benga Coal Project.
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