DLA Piper represented INEOS Enterprises in its proposed US$1.1 billion acquisition of Ashland Global Holdings' Composites business, as well as a butanediol (BDO) manufacturing facility in Marl, Germany.
The deal is expected to close in the first half of 2019, subject to regulatory approvals and consultation processes.
INEOS is one of the world's largest manufacturers of chemicals and oil products, with annual sales of US$60 billion and approximately 20,000 employees. The London-based company operates 171 sites in 24 countries. Ashland's Composites business is a global leader in unsaturated polyester resins, vinyl ester resins and gel coats, while the BDO facility in Germany is part of Ashland's Intermediates and Solvents (I&S) segment.
The US-based DLA Piper team, which included lawyers in Chicago, as well as Washington, DC, Philadelphia, Silicon Valley, Canada, Germany, France, Spain, London, Finland, Netherlands, Poland, China, Singapore, Saudi Arabia and Dubai, was led by partner Gregory Grossman and associate Erin Kirchner (both of Chicago).
