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Herbert Smith Advises Arkema on Two Strategic Chinese Acquisitions.

1 February, 2012

 

Legal News & Analysis – Asia Pacific – China – Corporate/M&A

 

Herbert Smith's Shanghai office has advised Arkema, a French chemical company listed on Euronext Paris, on the US$365 million acquisition of two Chinese chemical companies, which significantly strengthens its position in the polyamide and sebacic acid markets.

 

Arkema has acquired 100% equity stakes in both Suzhou Hipro Polymers Co Ltd, a fast-growing producer of bio-sourced polyamide 10.10, and Casda Biomaterials Co Ltd, the world's leading producer of sebacic acid, a key component of polyamide 10.10, in a deal worth US$365 million.

 

According to Betty Tam, the Shanghai partner who led the Herbert Smith team working on the deal, this acquisition is very important for Arkema.  "Arkema is currently the world's only producer of polyamide 11. These two acquisitions significantly strengthen its world leading position in speciality biosourced polyamides, and allow it to become the only chemical manufacturer to offer a full range of long chain polyamides 10, 11 and 12."

 

For further information, please contact: 
 
Nicola Ogilvie, Senior Business Development Manager, Herbert Smith
 

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