Herbert Smith’s Shanghai office has advised Arkema, a French chemical company listed on Euronext Paris, on its US$365 million acquisition of two Chinese chemical companies, which significantly strengthen its position in the polyamide and sebacic acid markets.
Arkema has acquired 100% equity stakes in both Suzhou Hipro Polymers Co Ltd, a fast-growing producer of bio-sourced polyamide 10.10, and Casda Biomaterials Co Ltd, the world’s leading producer of sebacic acid, a key component of polyamide 10.10, in a deal worth US$365 million.
Shanghai-based corporate partner Betty Tam, who led the Herbert Smith team advising on this deal, pointed out this acquisition is very important for Arkema. “Arkema is currently the world’s only producer of polyamide 11. These two acquisitions significantly strengthen its world leading position in speciality biosourced polyamides, and allow it to become the only chemical manufacturer to offer a full range of long chain polyamides 10, 11 and 12.”
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