Rockwood Holdings, Inc. acquires Kemira Oyj’s 39 percent interest in Sachtleben, a titanium dioxide business joint venture, for an equity value of €97.5 million.
The Frankfurt office recently advised Rockwood Holdings, Inc. on its acquisition of Kemira Oyj’s 39 percent interest in Sachtleben, a titanium dioxide (TiO2) business joint venture, for an equity value of €97.5 million. The transaction closed on February 15. Sachtleben is a leading producer of specialty grade titanium dioxide and was formed in September 2008 as a joint venture combining Rockwood’s titanium dioxide pigments and functional additives business and Kemira’s titanium dioxide business. In July 2012, Sachtleben acquired certain business assets, primarily inventory and other production assets, of crenox GmbH, a German titanium dioxide producer, from the insolvency administrator, bringing total capacity of the business from its three production plants to approximately 340,000 metric tons. Rockwood Holdings, Inc. is a leading global inorganic specialty chemicals and advanced materials company with approximately 10,300 employees and annual net sales of approximately $3.7 billion in 2011.
The deal was handled by partners Georg Linde and Mario Schmidt; national partner Rolf Hünermann and associates Dr. Maximilian Schwab, Patrick Wacker and Christina Mann.