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August & Debouzy acts as counsel to the Klesch Group for the takeover of Arkema's vinyl unit
Article Droit fiscal Droit du travail et de la protection sociale Private Equity Droit de l’environnement Gestion patrimoniale Immobilier et Construction Corporate - M&A | 17/01/12 | 2 min. | Pierre Descheemaeker Julien Aucomte Virginie Devos Anaïs Qureshi Philippe Lorentz
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
Environmental, government and regulatory law:
Pierre Descheemaeker and Dominique De Combles de Nayves, partners
Louis-Narito Harada and Cyril Delcombel, associates
Corporate:
Julien Aucomte, counsel
Benoît Robert and Christopher Allen, associates
Labour and employment law:
Virginie Devos, partner
Anaïs Qureshi and Pierre Warin, counsel, Maricaroline Sinet and Marie-Maud Vinot, associates
Tax law:
Philippe Lorentz, partner, and Bénédicte Foucault, counsel
Competition law:
Cécile Menu-Eisenchteter, counsel, and Céline Bonfils, associate