BDK Advokati has advised Chinese Hesteel on the acquisition of core assets from the state-owned Steel Mill Smederevo in the process of privatization. The Asset Purchase Agreement has been signed today. The purchase price for the assets of the Still Mill Smederevo is EUR 46 million, which makes this transaction one of the largest privatization deals in Serbia in the past 10 years.

Hesteel is the second largest global producer of steel. It intends to invest additional EUR 300 million in the upgrade of the Steel Mill capacities and construction of a new plant. The sale is contingent upon regulatory approvals and other customary closing conditions, and is expected to be completed in the third quarter of this year.

The following BDK lawyers advised Hesteel in this transaction: Partners Vladimir Dašić (M&A) and Tijana Kojović (Anti-Trust & State Aid), with the support from Senior Associate Milan Dakić, and Associates Slododan Trivić, Đorđe Zejak, Bisera Andrijašević, Lazar Radić, Anđa Savić and Irena Kalmić.