Ashurst advised Israeli Nilit Group on the sale of its plastics division including the nylon compounding business to Celanese Corporation, a global technology and specialty materials company.
Nilit Plastics comprises the nylon compounding business of Nilit, a leading independent manufacturer of high performance nylon polymers, fibers and compounds. Under the terms of the agreement, Celanese will acquire Nilit Plastics’ nylon compounding product portfolio as well as customer agreements and manufacturing, technology and commercial facilities. Nilit will retain ownership of the nylon fibers and nylon polymerization businesses worldwide, including facilities in Israel, the United States, China, and Brazil.
Celanese Corporation is a global technology leader in the production of differentiated chemistry solutions and specialty materials used in most major industries and consumer applications. Based in Dallas, Celanese employs approximately 7,000 employees worldwide and had 2015 net sales of $5.7 billion.
The Ashurst team advising on the sale of Nilit Plastics Europe GmbH was led by partner Reinhard Eyring (picture) and counsel Dr Philip Cavaillès (both corporate/M&A, Frankfurt), assisted by a multi-practice team from Frankfurt, Munich and London comprising: senior associate Dr Ian Maywald (corporate), partner Dr Maximilian Uibeleisen (public commercial law/environmental law), partner Dr Martin Bünning (tax), partner Dr Hendrik Theismann, associate Daniela Kowalsky (both real estate, all Frankfurt), partner Ute Zinsmeister, senior associate Dr Maria Held (both antitrust, Munich). A team from London advised on English law aspects.
Involved fees earner: Reinhard Eyring – Ashurst; Philip Cavaillès – Ashurst; Ian Maywald – Ashurst; Maximilian Uibeleisen – Ashurst; Martin Bünning – Ashurst; Hendrik Theismann – Ashurst; Daniela Kowalsky – Ashurst; Ute Zinsmeister – Ashurst; Maria Held – Ashurst;
Law Firms: Ashurst;
Clients: Nilit Ltd.;