The international law firm of White & Case LLP is advising the Swiss specialty chemical group Clariant AG on the acquisition of more than 95 percent of the shares in Munich-based Süd-Chemie AG from its majority stockholder One Equity Partners and numerous family shareholders. The transaction involving a total value of approximately 2 billion euros is still subject to antitrust clearance and a capital increase to be resolved by Clariant's general meeting. Following consummation of the purchase agreements, Clariant will make a public takeover offer for the remaining free float.
After five years, One Equity Partners is selling its stake of slightly more than 50 percent for €121 per share. The large majority of the family shareholders will, in exchange for one Süd-Chemie share, receive 8.84 Clariant shares to be issued in the capital increase. In addition to the negotiations of the purchase agreements, White & Case LLP is advising on takeover, tax and antitrust law aspects of the transaction.
Advising on the transaction were White & Case offices in Germany, China, France, Japan, Mexico, Poland, Russia, South Africa, Turkey and the United States, as well as partner firms in a number of other countries, including Brazil, India, Indonesia and Malaysia. In Switzerland White & Case is working together with the Homburger law firm, which is advising on issues involving Swiss capital market and corporate law.
The White & Case team was led by Markus Hauptmann, who was supported by partners Dr. Axel Pajunk (M&A), Josef Große Honebrink (Tax) and Dr. Börries Ahrens (Antitrust); local partners Dr. Alexander Kiefner (Corporate), Dr. Tobias Heinrich (M&A), Dr. Matthias Kiesewetter (M&A), Dr. Bernd Nelißen (Corporate), Dr. Michael Müller (Corporate) and Dr. Sebastian Glock (Bank Finance); counsel Dr. Angelika Bartholomäi (M&A), and associates Dr. Jari Friebel (Corporate), Dr. Matthias Hornberg (M&A), Elisabeth Seipel (M&A), Thomas Schmidt (Tax), Dr. Christian Schielke (Employment), Jochen Baier (Antitrust) and Ann-Christin Richter (Antitrust).
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