Cleary Gottlieb Steen & Hamilton and Ashurst have won roles on Rusal's planned $3bn (£2bn) flotation on the Hong Kong stock exchange.

Cleary has landed the main role on the listing, fielding a team led by City-based partner Dan Braverman advising on US, English and French law.

Ashurst corporate partner Andrew Edge is providing additional English law, while US firm Sidley Austin is advising on Hong Kong law, with a team led by Hong Kong-based capital markets partner Constance Choy. Egorov Puginsky Afanasiev & Partners is the lead Russian adviser.

The initial public offering (IPO) is set to take place later this month. Cleary and Ashurst both advised Rusal on the restructuring of $14bn (£8.5bn) worth of debt in the months running up to the float.

This followed the $3bn (£1.8bn) debt restructuring which took place earlier this year, taking the total amount to $17bn (£10.3bn), with at least 70 lenders involved.

The restructuring process handed roles to a raft of law firms, including US firms Hogan & Hartson and Bryan Cave and Slaughter and May best friend firms Bredin Prat, Hengeler Mueller and De Brauw Blackstone Westbroek. Russia's Egorov Puginsky was the lead local counsel to Rusal.

Ashurst's Edge said: "We were pleased to work with our longstanding client Rusal on this landmark restructuring deal. The deal was highly complex and required a great deal of coordination between the various law firms, given its cross-jurisdictional nature, the sheer number of lenders involved and UC RUSAL's proposed Hong Kong IPO."

He added: "The restructuring is a pivotal part of the IPO process and the IPO will clearly be a big step for Rusal."