CMS advised Chinese group Sinochem on the acquisition of Spain-based Elix Polymers for an enterprise value of EUR195 million.
Chemical conglomerate Sinochem has announced the purchase of Elix Polymers, a company with plant in La Canonja (Tarragona, Spain) specializing in the production of ABS thermoplastic resins, raw material with high mechanical performance and impact resistance for the manufacture of plastics with applications in the automotive sector, medical devices or the production of household appliances and electronic devices.
The Chinese group will pay 195 million euros to the Sun European Partners fund, which in Spain is also the owner of the Famosa toy store.
Our teams from CMS Spain and CMS China advised Sinochem:
- Luis Miguel de Dios, Ignacio Cerrato, Irene Miró, Elena Alcázar, Alina Martiniva, Celso Méndez, Tobías Kálnay, José Roberto Funes, Ana Vázquez & José Luis Rodríguez | Corporate / M&A, CMS Spain.
- Rafael Sáez | Insurance, CMS Spain.
- Carlos Vérgez, Aida Oviedo & Ana Jiménez-Clavería | Competition & EU, CMS Spain.
- Elena Esparza, Eva Ceca, Cristina Ridruejo, Alejandro Gil, Lucía Campillo & Eloy Martín de Lucía | Employment, CMS Spain.
- Eduardo Martínez, David Porras & Beatriz Cabeza | Public Law & Regulated Sectors, CMS Spain.
- Blanca Cortés, Bartolomé Martín, Alberto Colomina & Claire Murphy | IP & Data Protection, CMS Spain.
- Abraham Nájera, Jacobo Otero, Concepción Padilla & Inés Caruana | Financial Markets & Services, CMS Spain.
- Álvaro Otero, Jorge Peño, Jorge Durán, Lina Kondrushkina & Victoria Lebed | Real Estate, CMS Spain.
- Diego de Miguel | Tax, CMS Spain.
- Gonzalo Eizaga, Elisa Martín & Ricardo Camuñas | Dispute Resolution, CMS Spain.
- Dr Falk Lichtenstein, Amanda Ge, Roxie Meng & Aiping Bao | CMS China.