Baker McKenzie advised Swiss specialty chemicals company Sika AG and its subsidiaries on the sale of the industrial coatings business of Sika Deutschland GmbH to US-based Sherwin-Williams. Sherwin-Williams Company specializes in the development, manufacture and sale of coatings and related products.
An international team of Baker McKenzie lawyers advised Sika AG and its subsidiaries on the legal aspects of the transaction. The advice included the drafting of contracts as well as the carve-out of the industrial coatings business from Sika Deutschland GmbH.
"The transaction is a complete success for our client and for us. With a broadly positioned and well-coordinated team as well as full commitment across our practice groups and offices, we were able to provide efficient support to Sika in all legal areas involved," comments Dr. Florian Kästle, lead partner of the transaction.
Sika is a specialty chemicals company with a leading position in the development and production of systems and products for bonding, sealing, damping, reinforcing, and protecting in the building sector and motor vehicle industry. Sika has subsidiaries in 100 countries around the world and manufactures in over 300 factories. Its 25.000 employees generated annual sales of CHF 7.88 billion in 2020.
The global Corporate/M&A team of Baker McKenzie advises on more cross-border transactions than any other law firm. Most recently, Baker McKenzie advised Advent International on the sale of Allnex Group to PTT Global Chemical, Cognizant on the acquisition of the ESG Mobility division from Armira Private Equity, Deutsche Beteiligungs AG on the sale of its DNS:Net stake, Paragon on the sale of NovumIP to Questel Group, TA Associates on the acquisition of a majority stake in IGEL, Embracer on the acquisition of Easybrain Limited, SK Telecom on a joint venture with Deutsche Telekom, Chr. Hansen Holding A/S on its acquisition of Jennewein Biotechnologie GmbH, DBAG on an investment in congatec Holding AG, SAP on the sale of its SAP Digital Interconnect communications unit to Sinch AB, Air Liquide on the sale of the Schülke Group to Swedish financial investor EQT, METRO AG on the sale of its China business and the establishment of a strategic partnership with Wumei, Bayer AG on the sale of its majority stake in the chemical park operator Currenta and Evonik on the sale of its methacrylate business to Advent International.
Legal advisor to Sika AG:
Corporate/M&A: Florian Kästle (partner, Frankfurt)
Corporate/M&A: Andrea Ziegler (partner, Frankfurt), Ulrich Weidemann (counsel, Frankfurt), Stephan Gönczöl LL.M. (associate, Munich), Felix Werner (associate, Frankfurt)
Tax: Jochen Meyer-Burow (partner, Frankfurt)
Antitrust: Jan Kresken, LL.M. (counsel, Dusseldorf)
Employment: Felix Diehl (associate, Frankfurt), Sebastian Pfrang (associate, Frankfurt)
Public Law / Environmental: Ulrich Ellinghaus (partner), Andreas Neumann (associate, both Frankfurt)
IP: Dr. Rembert Niebel (partner, Frankfurt)