DEAL ANNOUNCEMENT / PRESS RELEASE
January 19, 2023
Read time: 3 min
International law firm McDermott Will & Emery represented Outokumpu Oyj, a global stainless steel manufacturer headquartered in Finland, in the divestment of a majority of its Long Products business operations to Marcegaglia Steel Group, a leading industrial group worldwide in the steel processing sector, for €228 million. McDermott was the US local counsel in this transaction.
The transaction includes Long Products’ melting, rod and bar operations in Sheffield, UK (Outokumpu Long Products Limited); wire rod mill in Fagersta, Sweden (Fagersta Stainless AB); and bar operations in Richburg, US (Outokumpu Stainless Bar, LLC).
The McDermott team was led by Anne Cox-Johnson and Sheldon Hughes and included Jacob Hollinger, Lesli Esposito, Matt Evola and Sarah Raaii.
McDermott Will & Emery partners with leaders around the world to fuel missions, knock down barriers and shape markets. Our team works seamlessly across practices and industries to deliver highly effective solutions that propel success. More than 1,400 lawyers strong, we bring our personal passion and legal prowess to bear in every matter for our clients and the people they serve.
