Travers Smith LLP has worked with leading German law firm Noerr to advise AEQUITA on the English law aspects of its acquisition of the European petrochemicals business of Saudi Basic Industries Corporation (SABIC).
The transaction comprises four production sites in Geleen (the Netherlands), Gelsenkirchen (Germany), Genk (Belgium) and Teesside (the UK), employing c. 1,900 people and generating $3.5bn in revenues.
AEQUITA is a Munich-based industrial group which invests in special situations such as carve-outs, succession arrangements and transformations throughout Europe. The current portfolio generates over €10bn in revenues.
The Travers Smith team was led by Corporate Partners Tom Hartwright and Jonathan Walters with support from Associate Will Rann. Competition and FDI advice was provided by Partner Ingrid Hodgskiss and Senior Associate Tom Davies. Tax advice was provided by Partner Madeline Gowlett.
The Noerr team was led by Partners Christoph Thiermann and Jan-Philipp Meier.
