ICL Group Ltd.’s Acquisition Of The South American Plant Nutrition Business From Compass Minerals

Freshfields and Cescon, Barrieu, Flesch & Barreto advised ICL Group Ltd. (NYSE: ICL) (TASE: ICL) on the deal. Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga and Cleary Gottlieb Steen & Hamilton advised Compass Minerals International

ICL Group Ltd. acquired Compass Minerals América do Sul S.A., which includes the South American Plant Nutrition business of Compass Minerals International, Inc. (NYSE: CMP) – after a planned carve-out of the existing water treatment and chemicals businesses – for approximately R$2,207 million (~US$402 million), including the assumption of approximately R$600 million (~US$109 million) of net debt, in addition to an earnout of up to approximately R$88 million (~US$16 million). The acquisition is expected to close by the third quarter of 2021, subject to the completion of the carve-out and receipt of regulatory approvals, among other customary closing conditions.

The South American Plant Nutrition business is the leading specialty plant nutrition business in Brazil and offers a broad range of solutions for plant nutrition and stimulation, soil treatment, seed treatment and plant health, covering all key Brazilian crops.

ICL is a leading global specialty minerals and chemicals company that creates impactful solutions for humanity’s sustainability challenges in global food, agriculture, and industrial markets.

The Freshfields team was led by M&A partner Paul Tiger (Picture) and associate Kelsey MacElroy. Partner Mena Kaplan, associate Marissa Yu and special counsel Peter Jaffe are advising on IP and data privacy matters. Partner Claude Stansbury and counsel Dennis Caracristi are advising on tax matters. Support along the way was provided by special counsel Tom Walsh on arbitration matters, partner Olivia Radin and associate Weronika Bukowski on anti-corruption matters and Adir Waldman on Israeli matters.

Cescon Barrieu acted as Brazilian local counsel with a team including Marcos Flesch, Joyce Midori Honda, Isabela Coelho, Alessandra L. de Azevedo Souza, Rafael Boaventura Lopes, Isabela Oliveira, Thales Lemos and Daniel Paiva.

Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga advised Compass Minerals International with João Ricardo de Azevedo Ribeiro, Gil Falleiros Mendes y Lauro Celidonio Gomes dos Reis Neto. Asociados Tomás Machado de Oliveira, Caio Jatahy Pinheiro Farias de Meirelles Fonseca, Thomaz Miguel Costa Carpes, Bruno Travassos Marto, Felipe Madruga de Sousa and João Marcelo da Costa e Silva Lima.

Cleary Gottlieb Steen & Hamilton advised Compass Minerals International in US.

Involved fees earner: Isabela Bagueira Leal Coelho do Val – Cescon, Barrieu, Flesch & Barreto; Rafael Boaventura Lopes – Cescon, Barrieu, Flesch & Barreto; Daniel Felipe de Paiva – Cescon, Barrieu, Flesch & Barreto; Marcos Rafael Flesch – Cescon, Barrieu, Flesch & Barreto; Joyce Midori Honda – Cescon, Barrieu, Flesch & Barreto; Alessandra Leonardi de Azevedo Souza – Cescon, Barrieu, Flesch & Barreto; Cescon Barrieu – Freshfields Bruckhaus Deringer LLP; Weronika Bukowski – Freshfields Bruckhaus Deringer LLP; Dennis Caracristi – Freshfields Bruckhaus Deringer LLP; Peter Jaffe – Freshfields Bruckhaus Deringer LLP; Mena Kaplan – Freshfields Bruckhaus Deringer LLP; Kelsey MacElroy – Freshfields Bruckhaus Deringer LLP; Olivia Radin – Freshfields Bruckhaus Deringer LLP; Paul Tiger – Freshfields Bruckhaus Deringer LLP; Adir Waldman – Freshfields Bruckhaus Deringer LLP; Marissa Yu – Freshfields Bruckhaus Deringer LLP; Tom Walsh – Hogan Lovells; Lauro Celidônio Gomes dos Reis Neto – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Thomaz Miguel Costa Carpes Borges – Mattos Filho Veiga Filho Marrey Jr & Quiroga; João Marcelo da Costa e Silva Lima – Mattos Filho Veiga Filho Marrey Jr & Quiroga; João Ricardo de Azevedo Ribeiro – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Gil Falleiros Mendes – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Caio Jatahy Pinheiro Farias de Meirelles Fonseca – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Tomás Machado de Oliveira – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Felipe Madruga de Sousa – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Bruno Travassos Marto – Mattos Filho Veiga Filho Marrey Jr & Quiroga;

Law Firms: Cescon, Barrieu, Flesch & Barreto; Freshfields Bruckhaus Deringer LLP; Hogan Lovells; Mattos Filho Veiga Filho Marrey Jr & Quiroga;

Clients: Compass Minerals; ICL Group;

Author: Martina Bellini