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White & Case Advises SIBUR on Consolidation of Petrochemical Business with TAIF Group

Global law firm White & Case LLP has advised SIBUR Holding, Russia's leading petrochemicals company and one of the fastest-growing companies in the global petrochemicals industry, on the consolidation of its petrochemical business with TAIF Group, which controls most of the chemical, petrochemical and oil and gas processing industries in the Republic of Tatarstan, Russia.

"We have a long and enduring relationship with SIBUR, advising on strategically important transactions such as this consolidation of its petrochemical business with TAIF Group," said White & Case partner Nikolay Feoktistov, who co-led the Firm's deal team. "Our cross-border and cross-practice team advised on all the key M&A, capital markets and antitrust aspects of the deal, bringing real value to our client. The transaction was implemented on an incredibly tight timescale for a deal of its size, which was only possible through White & Case lawyers working as a single team with SIBUR."

The consolidated company is set to become one of the top five world leaders in polyolefin and rubber production. The parties' global footprints required an extensive antitrust analysis and a complex set of filings in multiple jurisdictions. In consideration for 100 percent of shares in TAIF, its shareholders receive, among other things, a 15 percent stake in SIBUR and SIBUR's newly issued bonds. 

The White & Case team that advised on the transaction was led by partners Nikolay Feoktistov (Moscow) and Axel Schulz (Brussels & Düsseldorf), and included local partners Ekaterina Logvinova and Dmitry Lapshin (both Moscow), counsel Adam Smith and Pavel Boulatov (both Moscow), associates Evgeny Chernyavsky, Tigran Saakyan (both Moscow), Tommaso Poli, Marika Harjula, Aron Senoner and Marios Gavriiloglou (all Brussels), international trade analyst Georgi Ropanov (Brussels) and competition adviser Sezin Elcin-Cengiz (Istanbul).

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