White & Case advises Bluestar on acquisition of majority of Elkem’s Silicones business

Global law firm White & Case LLP has advised Bluestar Elkem International Co. Ltd. S.A. and certain of its affiliates (Bluestar) on the acquisition of the majority of Elkem ASA's Silicones division assets.

"This was a highly complex cross-border transaction involving a multi-jurisdictional restructuring, bespoke transaction documentation and an innovative settlement structure through the redemption of Bluestar's shares in Elkem. By combining the majority of Elkem's silicones business with Bluestar's existing portfolio, the transaction marks a transformational step that enhances Bluestar's global silicones platform and reinforces its position as a leading player in the silicones industry," said White & Case partner Paul Tang, who led the Firm's deal team. "This is a strategically important transaction for Bluestar and demonstrates White & Case's ability to deliver seamless cross-border structuring, regulatory and execution support on sophisticated, high-stakes international transactions."

The definitive agreement was entered into on February 13, 2026, and completion took place on April 30, 2026. The transaction was settled through the redemption of all 338,338,536 Elkem shares held by Bluestar, representing 52.9% of Elkem's shares.

The White & Case team that advised on the transaction was led by partner Paul Tang (Hong Kong) and included partners Mike Weir, Lindsey Canning (both London), Valerie Menard, Nathalie Negre-Eveillard (both Paris), Dongho Lee (Seoul) and Nicholas Boyle (Sydney), as well as local partners Ana Calvo and Eduardo Dachary (both Madrid), with support from a multi-jurisdictional team of counsel and associates across Hong Kong, Milan, Paris, Prague, Warsaw, Mexico City, Frankfurt, Helsinki, Madrid, Silicon Valley, Chicago, New York, Seoul, Sydney and London.

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