Chemicals

Creating one of the world's largest integrated chemical companies
Advised Saudi Aramco in its US$69.1 billion acquisition of a 70% stake in Saudi Basic Industries Corporation (SABIC) from the Public Investment Fund of Saudi Arabia.

Kazakhstan Petrochemical
We represent the project company established by United Chemicals Company and Borealis Chemicals on the proposed development and financing of an US$8 billion petrochemicals facility in Kazakhstan.

Eleme Line 2
We represented International Finance Corp. and a syndicate of around 20 development financial institutions and commercial lenders on the financing of the US$1 billion expansion of a world-scale urea fertilizer production facility near Port Harcourt, Nigeria. This new financing will enable Indorama Eleme Fertilizer and Chemical Nigeria Ltd. to double the capacity of the existing facility from 1.4 million tons per year to 2.8 million tons, moving production further into the international export market and making it the world's largest single train urea fertilizer plant. This deal was recently recognised as "African Petrochemical Deal of the Year" by Project Finance International 2018.

Baltic Gas Chemical Company on construction of Russia methanol plant
We represented Baltic Gas Chemical Company (BGCC) on a methanol plant project in Ust-Luga, an industrial port in Russia's Leningrad region. The project consists of the construction of a world-scale methanol plant from natural gas with a capacity of 1.7 million tonnes per annum, and a sea export terminal in Ust-Luga.

Financing for acquisition of largest chemical plant in Romania
We represented the lenders on the successful extension of the financing for Romanian chemical producer Chimcomplex SA, arranged by Frankfurt-based VTB Bank (Europe) SE together with Special Investments Group of Credit Suisse AG, for the acquisition of certain assets and of the business of state-owned Oltchim S.A. Chimcomplex is now one of the most important chemical manufacturers in Romania

Liwa Plastics Industries Complex
We represented six export credit agencies—Atradius DSB, Euler Hermes, K-Exim, K-Sure, SACE and UKEF—and a syndication of 19 international and regional banks in connection with the development and financing for the US$6.4 billion Liwa Plastics Industries Complex being developed by Oman Oil Refineries and Petroleum Industries (ORPIC). The Liwa Plastics Industries Complex is located at the Sohar Industrial Port Area, next to the Sohar refinery and petrochemicals plant in Oman. It will produce one million tonnes per year of plastics and increase ORPIC's polypropylene and polyethylene production to 1.4 million tpy. This deal was recently recognized as "Middle East & Africa Petrochemical Deal of the Year" by Project Finance International 2016 and "MENA Petrochemicals Deal of the Year" by IJGlobal 2016.

PetroRabigh Phase II Expansion
We represented the sponsor, Saudi Aramco, in the development, financing, and technology aspects for the US$8 billion expansion of an existing world-scale petroleum refining and petrochemicals complex in Rabigh, Saudi Arabia. Once the expansion project is complete, the US$18 billion combined (conventional, Islamic and export credit agency) facilities will form one of the largest refining and petrochemical complexes ever built. White & Case advised Saudi Aramco on all aspects of this landmark transaction: project development, due diligence, technology licensing, commercial launch, negotiation and drafting of finance documents, signing and financial close. This expansion project follows our 2006 representation of Saudi Aramco in the initial US$9.9 billion financing and joint venture with Sumitomo Chemicals for the Rabigh refinery and petrochemical complex, which was the first project financing undertaken by Saudi Aramco. This project was awarded "Middle East and Africa Petrochemical Deal of the Year" by Project Finance International 2015. The 2006 transaction was awarded "Middle East Project Finance Deal of the Year" by International Financial Law Review.

US$20 billion Sadara Chemical project
We advised Saudi Aramco on the development, financing (including the raising of US$12.5 billion from multiple financing sources) and technology aspects of the US$20 billion Sadara Chemical Project, a joint venture between Saudi Aramco and The Dow Chemical Company to build and operate a world-scale integrated chemical complex in Jubail Industrial City. This multi-sourced transaction is the largest-ever chemical project built in one phase, and is the largest project financing in the global chemicals sector to date. It was selected as "2013 Global Finance Deal of the Year: Project Finance (Middle East)" by The American Lawyer, as "2013 Project Finance Deal of the Year (Middle East)" by International Financial Law Review and as "2013 Middle East Petrochemical Deal of the Year" by Project Finance International.

Etileno XXI petrochemicals project in Mexico
We represented Braskem Idesa SAPI in the development, procurement, construction, project financing and technology aspects of its US$4.5 billion Etileno XXI integrated petrochemicals project in Veracruz, Mexico. Seven governmental agencies and 10 commercial banks participated in the financing, the largest private sector investment in a single project ever in Mexico, and the largest project financing ever in the petrochemical industry in the Americas. This deal was selected as "2012 Overall Latin American Deal of the Year" and "2012 Latin American Petrochemicals Deal of the Year" by Project Finance magazine, "2012 Americas Petrochemical Deal of the Year" by Project Finance International magazine, as "2012 Project Finance Deal of the Year" by Latin Lawyer magazine, and as one of the "2012 Deals of the Year" by Trade Finance magazine.

Clariant
We advised Clariant, a Swiss specialty chemical group, on the €2 billion acquisition of more than 95 percent of the shares in Munich-based Süd-Chemie AG from its majority stockholder One Equity Partners and numerous family shareholders in a bidding process. In addition to the negotiations of the purchase agreements, we advised on takeover, tax and antitrust law aspects of the transaction. Our offices in Germany, China, France, Japan, Mexico, Poland, Russia, South Africa, Türkiye and the US were involved, and we also coordinated partner firms in a number of other countries, including Brazil, India, Indonesia and Malaysia. We also advised Clariant on its sale of Textile Chemicals, Paper Specialties and Emulsions businesses to US-based private investment firm SK Capital; and on the sale of its Leather Services business to Stahl, a Netherlands-based chemicals group.

Univar
We represented Univar, a portfolio company of private equity firms CVC Capital Partners and Clayton Dubilier & Rice and a leading global distributor of industrial and specialty chemicals in more than 100 countries, in its acquisition of Magnablend Holdings, Inc., a custom chemical blending, manufacturing and packaging company; and in its acquisition of Basic Chemical Solutions LLC, a leading global distributor and trader of commodity chemicals.

Wilmar Europe Holdings
We advised Wilmar Europe Holdings B.V., an edible oils manufacturer and subsidiary of Singapore-based leading agribusiness group Wilmar International Limited, on the acquisition by Wilmar Europe Holdings B.V., a direct wholly owned subsidiary of Wilmar, of a 50 percent equity interest in Erca Poland sp. z.o.o (JVC Poland) and Erca Home & Personal Care S.r.l (JVC Italy) from Società Chimica Lombarda S.p.A.

E.I. DuPont de Nemours
We advised E.I. du Pont de Nemours on the EU and worldwide merger control filings in its successful US$6.3 billion public tender offer for Danisco A/S. The transaction combined DuPont’s activities focused on chemicals and biotechnology with Danisco’s expertise in food ingredients and industrial enzymes. We coordinated merger control clearances around the world with our offices in China, South Africa, Mexico and Japan, among others.

Kraton Performance Polymers, Inc.
We represented Kraton Performance Polymers, Inc. in the global due diligence and merger control issues in connection with the acquisition of all of the capital stock of privately held Arizona Chemical Holdings Corporation for a cash purchase price of US$1.37 billion. The seller was AZC Holding Company LLC, which is principally owned by investment funds managed by American Securities LLC. Arizona Chemical is a leading global producer of high-value performance products and specialty chemicals derived from non-hydrocarbon, renewable raw materials, and its end-use market exposure is highly complementary with that of Kraton.

Latin American chemicals company
We represented a Latin American chemicals company in an ICC arbitration arising out of the sale of a business pursuant to a New York law-governed share purchase agreement concerning representations, warranties and indemnities.

Large chemical manufacturer
We represented a large chemicals manufacturer in various litigation matters arising out of the acquisition of the US and European businesses of an Indian industrial group, including acting as co-counsel in two arbitrations sited in Delhi.

Global chemicals manufacturer
We represented a leading global manufacturer of various chemicals in compliance with the REACH Regulation, as well as other chemicals regulations around the world. Our work on this matter requires experience in other legal practices such as trade, antitrust, IP and national contract laws and our advice includes assistance with the development of internal, strategies to ensure compliance with REACH, drafting of cooperation agreements and contractual arrangements with clients, suppliers or other SIEF participants, and assistance on various issues related to the participation in a SIEF (data-sharing and cost-sharing issues, competition law issues and protection of CBI).