International CMS team advises Sinochem Group on the acquisition of plastics manufacturer ELIX Polymers from Sun European Partners

Stuttgart – Chinese chemical giant Sinochem Group has acquired the Spanish plastics producer ELIX Polymers from the British private equity investor Sun European Partners LLP for an enterprise value of EUR 195 million.

An international team led by CMS Spain provided Sinochem with comprehensive legal advice on all aspects of the transaction. In Germany a CMS team headed by lead partner Dr. Harald Kahlenberg advised Sinochem in particular on the notification of the acquisition to the German Federal Cartel Office, and was successful in receiving merger control clearance within the one-month "first phase" clearance period.

Headquartered in Beijing, China, Sinochem Group is one of China's four largest state oil companies and the leading chemical service provider in China. It is also China's largest agricultural inputs company (fertilizer, seed and agrochemicals) and integrated modern agricultural service operator. Sinochem Group is also active in urban planning and the non-banking financial service sector.

Founded 40 years ago as part of Monsanto and headquartered in Tarragona, Spain, ELIX specialises in the production of high-quality pre-coloured ABS (Acrylonitrile-Butadiene-Styrene) resins, derivatives and tailor-made specialties used in a wide range of sectors such as healthcare, automotive, consumer and others.

CMS Germany

Dr Harald Kahlenberg, Lead Partner
Peter Giese, Counsel, both Competition & EU

CMS Spain

Luis Miguel de Dios, Corporate / M&A
Rafael Sáez, Insurance
Carlos Verges
Aida Oviedo Martinez
Ana Jimenez-Claveria, all Competition & EU
Elena Esparza, Employment
Eduardo Martínez, Public Law & Regulated Sectors
Blanca Cortés, IP & Data Protection
Abraham Nájera, Financial Markets & Services
Álvaro Otero, Real Estate
Diego de Miguel, Tax

CMS China

Falk Lichtenstein
Amanda Ge
Roxie Meng, all Corporate / M&A
Aiping Bao, Competition

CMS Poland

Malgorzata Urbanska
Agnieszka Starzynska
Jan Zarzycki, all Competition & EU

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