Baker & Mckenzie SCP Advises PTT Global Chemical in Connection with its Joint Venture with Perstorp
Deal Announcement
18 January 2012
Paris, France, January 18, 2012 – Perstorp, one of the leading European specialty chemical companies, and PTT Global Chemical, Thailand’s largest chemical group, entered into a joint venture agreement on December 22, 2011. The joint entity will produce and sell chemical products for the polyurethane industry and will include the former Perstorp “Coating Additives” division,as well as the manufacturing sites in France (Pont de Claix) and in the United States (Freeport, TX). PTT Global Chemical will hold a 51% stake in the joint entity, while Perstorp will hold the remaining 49%.
The transaction is expected to close during the second quarter of 2012.
PTT Global Chemical was advised by the Baker & McKenzie SCP team led by Partners Stéphane Davin, Hugo Sanchez de la Espada and Associate Marc Viltart on corporate matters; while counsel Thomas Oster advised on antitrust matters. Ernst & Young, in particular Partner Sophie Fournier-Dedoyard and Manager Sandrine Gobault has advised PTT Global Chemical on tax matters.