Wolf Theiss advises US giant United States Steel Corporation on the sale of its entire serbian operations

WOLF THEISS advised United States Steel Corporation, a major US listed company, on the sale of its entire Serbian steel-making operations to the Government of the Republic of Serbia.

The sale of U. S. Steel Serbia d.o.o. to the Republic of Serbia closed on 31 January 2012, whereby the Serbian government purchased the loss-making plant from U. S. Steel for a nominal amount. The purchase was made so as to stave off closure of the Serbian plant and to save thousands of jobs, while giving the Serbian government the opportunity to find a buyer.

Wolf Theiss Partner Bojana Bregovic points out: "This was a highly sensitive transaction that required special care in maintaining the excellent relationship between the client and the Government of Serbia. Serbia is certainly not happy to see U. S. Steel leave, but a solution had to be found so as to avoid a shut-down of the plant."

Partner Bojana Bregovic and Associate Marijana Zejakovic of Wolf Theiss, Serbia, were lead counsel in Serbia.