Gleiss Lutz advises Celanese on acquisition of Italian SO.F.TER Group
Gleiss Lutz is advising U.S. based Celanese Corporation on its acquisition of the SO.F.TER Group, a specialty chemicals firm based in Forli, Italy, with subsidiaries in Brazil, Mexico and the U.S. Closing is subject to regulatory approvals and expected to be completed by the end of this year. The parties have agreed not to disclose the purchase price.
The SO.F.TER Group is one of the world’s largest independent compounders, specialising in particular in thermoplastic elastomers (TPE) and engineering thermoplastics (ETP). The acquisition of the SO.F.TER Group forms part of Celanese’s effort to extend its global leadership position in the engineered materials market.
Celanese Corporation, a global technology leader in the production of specialty materials and chemical products, employs 7,500 worldwide and generated sales of around USD 5.7 billion in 2015.
Acting as lead counsel, Gleiss Lutz advised Celanese comprehensively on the M&A transaction and coordinated an international team of advisors comprising Chiomenti Studio Legale in Italy, Machado, Meyer, Sendacz e Opice in Barzil, Nader, Hayaux y Goebel, S.C. and Ogletree Deakins International, S.C. in Mexico as well as Ferrer Law in Uruguay.
Celanese was advised by a team led by Dr. Jan Bauer (Frankfurt) and Dr. Jan Balssen (Munich) (both partners, corporate/M&A). The following Gleiss Lutz lawyers were involved: Dr. Doris-Maria Schuster (partner, employment, Frankfurt), Dr. Rüdiger Schmidt-Bendun (Frankfurt), Anton Gordon (Munich), Andreas Knossalla (Frankfurt) (all corporate/M&A).