A cross-border, multidisciplinary Willkie team advises Rockwood Holdings, Inc. in the sale of its titanium dioxide pigments and four other non-strategic businesses to Huntsman Corporation.
On September 17, Willkie client Rockwood Holdings, Inc. announced that it has entered into a definitive agreement to sell its titanium dioxide pigments and four other non-strategic businesses to global specialty chemical company Huntsman Corporation for an enterprise value of $1.325 billion. The businesses being sold include Titanium Dioxide Pigments, Color Pigments & Services, Timber Treatment Chemicals, Rubber/Thermoplastics Compounding and Water Chemistry.
Based in Princeton, NJ, Rockwood is a leading global specialty chemicals company with approximately 7,100 employees worldwide. The company focuses on global niche businesses in the specialty chemicals, pigments and additives markets. Willkie also recently advised Rockwood in its $1.98 billion sale of CeramTec in June 2013 and in its $635 million sale of its rheology business to ALTANA Group in July 2013.
The current deal was handled by a cross-border, multidisciplinary Willkie team led by corporate partner Georg Linde in Frankfurt, and included: Frankfurt – partner Dr. Patrick Meiisel (tax), national partner Dr. Christian Rolf (employment) and associates Dr. Maximilian Schwab, Wolfgang Münchow, Dr. Axel Wahl, Patrick Wacker, Dr. Johannes Eckhardt (all corporate), Christian Stöhr (employment) and Jörg Walzer (tax); Paris – partner Annette Peron (corporate), special European counsel Gregory F. de Saxcé (corporate) and associate Delphin Boucher (corporate) and Milan – partner Maurizio Delfino and associate Massimo Palombi (corporate).