International law firm Clifford Chance has advised Trinseo S.A., the US-listed global materials company and manufacturer of plastics, latex binders and synthetic rubber, on the sale of its synthetic rubber business based in Schkopau, Germany, to Poland-based Synthos S.A. for an enterprise value of USD 491 million.
The transaction is subject to customary closing conditions and regulatory approvals and is expected to close in 2022. The transaction includes the transfer of approximately 440 employees, mostly located in Schkopau, Germany, as well as the associated manufacturing and research and development facilities and related intellectual property.
With the transaction, Trinseo is pursuing a transformation strategy toward becoming a higher margin and less cyclical specialty materials and sustainable solutions provider, focussing on growth in Engineered Materials and CASE applications.
Clifford Chance is regularly advising Trinseo on transactions, most recently on the acquisition of the chemical park in RheinmĂĽnster.
The Clifford Chance team advising Trinseo was led by partner Jörg Rhiel and comprised associate Lara Stelmach, associate Michael KĂĽmmel and counsel Moritz Petersen (all Corporate/M&A, Frankfurt); partner Markus Böhn with senior associate Amrei Fuder (Real Estate, Frankfurt); partner Stefan Simon (Employment, Frankfurt); partner Dimitri Slobodenjuk with senior associate Anne Filzmoser (both Antitrust, DĂĽsseldorf); partner Dominik Engl with associate Laura Lamster (both Tax, Frankfurt) as well as partner Claudia Milbradt with senior associate Nicolas Hohn-Hein (both IP, DĂĽsseldorf). From the firm’s Warsaw office, counsel Krzysztof Hajdamowicz (Corporate) was involved.
Inhouse at Trinseo, General Counsel Angelo Chaclas and Legal Counsel Anna Yedes advised on the transaction.
