A number of August & Debouzy’s teams are advising the Klesch Group on its takeover of Arkema’s vinyl unit representing a turnover of just over one billion euros in 2010 and a workforce of over 2,600.
Arkema, a leader in the chemicals industry, last Wednesday announced its plan to sell its entire vinyl products division to the European Group Klesch specialising in long-term investments in manufacturing, aluminium, oil refining and industrial maritime transport.
This transaction, which is still in a stage of negotiations between the two groups, is considered to be one of the most important transactions in the second half of 2011. It will enable the Klesch Group to increase its turnover by approximately one billion euros.
This new company, run by Otto Takken, who currently runs Arkema’s vinyl products division, is likely to set up its headquarters in Lyon.
It is a much-awaited transaction for both sides and has also attracted interest from the stock markets, which welcomed this announcement with an almost 20% rise.
Legal counsels advising on the transaction:
In addition to an extensive legal audit, August & Debouzy’s teams have been involved in the negotiations and the drafting and conclusion of the contractual agreements formalising the project.
Counsel to the Klesch Group: August & Debouzy