Allen & Overy advised Advent International on the deal while Jones Day represented PTT Global Chemical Public Company Limited.
Advent International sold allnex Group to Netherlands-based PTTGC International (Netherlands) B.V., a wholly owned subsidiary of Bangkok-based PTT Global Chemical Public Company Limited (“PTTGC”). The transactions value amounts to approximately €4bn. The transaction is expected to close in Q4 2021.
allnex is the leading global producer of industrial coating resins, offering a broad range of coating polymers and additives. With about €2bn in revenue and around 4,000 employees worldwide, allnex has leading positions in all key industrial coating segments, including a.o. industrial metal, automotive, and packaging. allnex manages a global production network of 33 state-of-the-art manufacturing sites and 23 research and technology facilities to support customers across the world.
The international Allen & Overy team was led by partner Dr Helge Schäfer (Picture – Hamburg), together with partners Dr Michiel Huizinga (Frankfurt) and Gordon Milne (London), as well as counsel Alexander Wüpper (Frankfurt) and senior associate Monika Przygoda (London, all Corporate/M&A/Private Equity).
The Jones Day team was led by Dennis Barsky, Christian Krebs and Sushma Jobanputra.
Involved fees earner: Michiel Huizinga – Allen & Overy; Gordon Milne – Allen & Overy; Monika Przygoda – Allen & Overy; Helge Schäfer – Allen & Overy; Alexander Wüpper – Allen & Overy; Dennis Barsky – Jones Day; Sushma Jobanputra – Jones Day; Christian Krebs – Jones Day;