Global law firm of White & Case LLP has advised the Switzerland-based specialty chemicals company Clariant on the establishment of a 50-50 joint venture with Wilmar, a leading listed agribusiness group headquartered in Singapore. The closing of the transaction is subject to clearance by the antitrust authorities.
The joint venture, to be headquartered in Singapore, and further joint venture entities in China and Germany are, starting in spring of 2013, proposed to serve as a global platform for the production and distribution of amines and selected amine derivatives worldwide. Toward this end Clariant will, at the formation of the joint venture, amongst other things, contribute production facilities in Germany and, furthermore, production capacities in Brazil and a global distribution network. Being one of the world’s largest producers and processors of palm and lauric oils, Wilmar will, amongst other things, make available a new plant in China and oleochemical production know-how. The objective of the joint venture is to create a new leader in the global amine and amine derivatives market by combining Wilmar’s strong presence in basic oleochemicals and downstream products with Clariant’s technical expertise and established market presence in the amines segment.
“The structuring of the transaction in several jurisdictions, as well as the preparation and negotiation of the contract documentation, within a tight timeframe were just as challenging as multifaceted. Due to the close interlocking of our offices in Singapore, China and Germany as well as our extensive transaction experience in this sector, we were optimally positioned for this assignment,” said White & Case partner Markus Hauptmann.
The White & Case team was led by partner Markus Hauptmann and local partner Dr. Tobias Heinrich (both M&A, Frankfurt). In Germany, the White & Case team included local partner Sylvia Ebersberger (M&A, Munich), associate Katharina Thumeyer (M&A, Frankfurt), partner Dr. Börries Ahrens, local partner Dr. Justus Herrlinger, associate Grant McKelvey (each Antitrust, Hamburg), counsel Dr. Andreas Klein (Intellectual Property, Frankfurt) as well as partner Dr. Tobias von Tucher and sssociate Dr. Susanne Weckbach (both Intellectual Property, Munich). Singapore local partner Jonathan Olier (Corporate), associates Tom Lin (M&A, Singapore), Timothy Goh (M&A, Singapore), Jiong Deng, Ying Da (Amy) Guan (both Corporate M&A, Shanghai) as well as counsel Patrick Ma (Antitrust, Beijing) also assisted.
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