Latham & Watkins Advises Imerys on the Sale of Its Assets Serving the Paper Markets

Latham & Watkins has advised Imerys, the world leader in mineral-based specialty solutions for industry, on its exclusive negotiations to sell most of its assets producing kaolin, ground calcium carbonate (GCC), precipitated calcium carbonate (PCC), and talc to Syntagma Capital, an investment firm operating in companies within the chemicals, industrial, and B2B services sectors, these activities representing app. €400 million in sales in 2021.

The proposed transaction, which is subject to the fulfillment of customary closing conditions, including the information and consultation of works councils and other regulatory approvals, is expected to be completed in the course of 2023.

Imerys is advised in this transaction by an in-house legal team led by Frédérique Berthier-Raymond, Imerys General Counsel, and Rémi Pagès, Imerys M&A Legal Director, and Latham & Watkins with a team led from Paris by corporate partners Thomas Forschbach and Alexander Benedetti, with associates Aymeric Derrien-Akagawa, Saad-Victor Houpert, Pauline Le Faou, and Rim Benzakour. Advice was provided on tax aspects by partner Xavier Renard and associate Clémence Morel, and on finance aspects by associate Aurélien Lorenzi.