Arkema, France’s leading chemicals producer, announces plans to divest of its vinyl products businesses to Switzerland-based Klesch Group.
On November 23, Willkie client Arkema, France’s leading chemicals producer, announced plans to divest of its vinyl products businesses to Switzerland-based Klesch Group, and refocus on specialty chemicals. The Klesch Group, which specializes in the development of commodity-related industrial activities, aims to create a leader in the European PVC industry. Arkema’s vinyl-related businesses generated annual revenues of more than €1 billion. The deal is subject to the legal information and consultation process with the trade unions and approval of the antitrust authorities.
The Willkie team was led by partner Jacques-Philippe Gunther, who also handled competition law matters. Partners Eduardo Fernandez and Cédric Hajage and special European counsel Grégoire Finance led the corporate aspects of the transaction. The deal team included associates Grégory de Saxcé, Laure Pistre, Mathieu Frick and Alexandre Avrillon (corporate); associates Faustine Viala and Lionela Nizet (competition law); national partner Vincent Brenot and associates Raphaëlle Buot de l’Epine and Agnès Macaire (environmental); and partner Marie-Hélène Raffin and associate Solenn Messerli (tax).
The deal was also handled by Group General Counsel Florence Schlegel and M&A Legal Counsel Hélène Monceaux from Arkema’s in-house legal department.