Willkie advises Arkema on the proposed divestment of its PMMA business to Trinseo for an enterprise value of €1,137 million.
On December 14, Willkie client Arkema announced the proposed divestment of its polymethyl methacrylate (PMMA) business to Trinseo, a global materials solutions provider and manufacturer of plastics, latex binders, and synthetic rubber.
Arkema’s PMMA activity is an integrated business, from production of methyl methacrylate to polymethyl methacrylate, marketed under the well-known brands Plexiglas® on the American continent and Altuglas® in the rest of the world. The business employs some 860 people and operates 7 production sites (4 in Europe and 3 in North America), with estimated sales of circ. €510 million for 2020.
The proposed divestment is subject to prior consultation with the relevant works councils and approval of competent antitrust authorities.
The Willkie team was led by partner Grégoire Finance and included New York based partner Claire James, assisted by associates Hugo Nocerino, Justine Ricaud and Marion Callot in Paris as well as Kurt Lyn and Alexander Swartwood in New York.
At Arkema, Hélène Monceaux (Head of M&A, Legal Department) and Claire Le Louarn (Legal Counsel M&A) led the transaction.