NEW YORK--(BUSINESS WIRE)--Please replace the release with the following corrected version due to multiple revisions.
The corrected release reads:
LOWENSTEIN SANDLER REPRESENTS LONGTIME CLIENT INDORAMA VENTURES IN $2.1 BILLION ACQUISITION OF HUNTSMAN’S CHEMICALS UNITS
Lowenstein Sandler is representing its longtime client, Indorama Ventures Public Company Limited (BKK:IVL), Thailand’s leading global chemical company, in the high-profile $2.1 billion acquisition of the specialty chemicals portfolio of Huntsman Corporation USA (NYSE:HUN).
With this transaction, involving the acquisition of five manufacturing sites, Lowenstein has now advised Indorama as lead counsel on the acquisition of a total of 16 facilities since 2003. Earlier deals include IVL’s $1.125 billion joint venture to acquire a production facility from M&G Chemicals; its acquisition of M&G Polimeros Brazil S.A., owner of Brazil’s largest PET (polyethylene terephthalate) facility; its acquisition from BP Amoco Chemical Company of a 1,000-acre manufacturing facility located in Alabama; its acquisition of a facility located in Montreal, Canada, from subsidiaries of CEPSA and Investissement Quebec; and its $420 million acquisition of several manufacturing facilities from Invista B.V.
The assets being acquired will broaden IVL’s global footprint and strengthen its business franchise with the addition of manufacturing sites in Chocolate Bayou, Port Neches, and Dayton, TX; Ankleshwar, India; and Botany, Australia, plus significant numbers of employees, global R & D centers, and patents.
Aloke Lohia, Group CEO of Indorama Ventures, said, “This acquisition is a momentous part of our journey towards our stated goal of being a global, diversified chemicals company with multiple and related earning streams. I am confident that this important business will drive value for all our stakeholders and underpin IVL’s earnings growth opportunities for years.”
The Lowenstein Sandler deal team included Nicholas San Filippo IV, Sam E. Khan, Stuart S. Yusem, Nicholas G. Mehler, Christine Osvald-Mruz, Doreen M. Edelman, Brian A. Silikovitz, Norman W. Spindel, Mark S. Heinzelmann, Mitchell McDonald, Megan Monson, Sami Najib, Sunita Patel, Alex H.Rosenthal, and Niral T. Shah. The Valence Group acted as exclusive financial adviser to IVL, and KPMG provided financial due diligence support.
About Lowenstein Sandler
Lowenstein Sandler is a national law firm with over 300 lawyers based in New York, Palo Alto, New Jersey, Utah, and Washington, D.C. The firm represents leaders in virtually every sector of the global economy, with particular emphasis on investment funds, life sciences, and technology. Recognized for its entrepreneurial spirit and high standard of client service, the firm is committed to the interests of its clients, colleagues, and communities.