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Egorov Puginsky Afanasiev & Partners Ukraine advises Kemira Oyj on the acquisition of AkzoNobel paper chemicals business
Kyiv, Ukraine, Mon, June 22, 2015
Egorov PuginskyAfanasiev & Partners Ukraine has assisted a global chemicalscompany Kemira Oyj with obtaining merger clearance with the AntimonopolyCommittee of Ukraine(the "AMCU") for the acquisition of thepaper chemical business of AkzoNobel, the largest global paints and coatingscompany. The transaction was closed on May 4, 2015, after obtaining theapproval from the AMCU. The deal was first announced on July 8, 2014. The valueof the transaction is EUR 153 million.
As the result ofthe transaction, six of the AkzoNobel paper chemicals manufacturing sitesand approximately 350 employees have been transferred to Kemira.
Kemira has alsoincreased the production capacity of its own paper chemical manufacturingsites in order to realize expected production synergies.
The integrationperiod of the transaction is expected to last approximately two years andresult in EUR 15 million net synergies on an annualized basis.
The production sitestransferred to Kemira are located in South Korea, Thailand, Indonesia,Australia, Spain and Italy.
Kemira Oyj is a global chemicals companyserving customers in water-intensive industries. The company’s focusis on pulp & paper, oil & gas, mining and water treatment. In 2014,Kemira had annual revenue of EUR 2.1 billion and around 4,250 employees. Kemirashares are listed on the NASDAQ OMX Helsinki Ltd.
AkzoNobel is a leading global paintsand coatings company and a major producer of specialty chemicals. Headquarteredin Amsterdam, the Netherlands, AkzoNobel has approximately 46,000 people inaround 80 countries, while its portfolio includes well-known brands suchas Dulux, Sikkens, International, Interpon and Eka.
EPAP's Ukrainecompetition team was led by Partner Oksana Ilchenko and comprisedCounsel Oleg Boichuk, Associates Oksana Franko and NadiiaDmytrenko, and Junior Associate Rostyslav Zeleniuk.
About EPAP Ukraine
Egorov Puginsky Afanasiev & Partners Ukraine (EPAP Ukraine) isone of the leading full-service law firm in Ukraine, advising leading globaland local businesses in Ukraine, throughout the CIS and worldwide.
In 2014, the firm has been recognized as a leader of the Europeanmarket according to The Lawyer European Awards 2014: European Law Firm ofthe Year and European Corporate Team of the Year.
Mediacontacts
Alyona Onishchenko
Tel.: +380 44 492 82 82
