Freshfields is advising ICL Group Ltd. (NYSE: ICL) (TASE: ICL) on its acquisition of Compass Minerals América do Sul S.A., which includes the South American Plant Nutrition business of Compass Minerals International, Inc. (NYSE: CMP) – after a planned carve-out of the existing water treatment and chemicals businesses – for approximately R$2,207 million (~US$402 million), including the assumption of approximately R$600 million (~US$109 million) of net debt, in addition to an earnout of up to approximately R$88 million (~US$16 million). The acquisition is expected to close by the third quarter of 2021, subject to the completion of the carve-out and receipt of regulatory approvals, among other customary closing conditions.
The South American Plant Nutrition business is the leading specialty plant nutrition business in Brazil and offers a broad range of solutions for plant nutrition and stimulation, soil treatment, seed treatment and plant health, covering all key Brazilian crops.
ICL is a leading global specialty minerals and chemicals company that creates impactful solutions for humanity’s sustainability challenges in global food, agriculture, and industrial markets.
Read more on the transaction in ICL’s official press release here.
The Freshfields team is led by M&A partner Paul Tiger and associate Kelsey MacElroy. Partner Mena Kaplan, associate Marissa Yu and special counsel Peter Jaffe are advising on IP and data privacy matters. Partner Claude Stansbury and counsel Dennis Caracristi are advising on tax matters. Support along the way was provided by special counsel Tom Walsh on arbitration matters, partner Olivia Radin and associate Weronika Bukowski on anti-corruption matters and Adir Waldman on Israeli matters. Cescon Barrieu is acting as Brazilian local counsel.
