30 Jul 2010

Clayton Utz's M&A team assists CSN on Riversdale capital raising

Sydney, 30 July 2010: 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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Clayton Utz communications are intended to provide commentary and general information. They should not be relied upon as legal advice. Formal legal advice should be sought in particular transactions or on matters of interest arising from this communication. Persons listed may not be admitted in all States and Territories.