Latham & Watkins Advises on US$2.35 Billion Acquisition of Low Carbon Ammonia Project

Woodside has announced that it has entered into a binding agreement to acquire 100% of OCI Clean Ammonia Holding B.V., and its lower carbon ammonia project in Beaumont, Texas (Project), for an all-cash consideration of approximately US$2.35 billion. The Project is under construction and targets first ammonia production from 2025 and lower carbon ammonia from 2026.

Latham & Watkins advised on the acquisition, with a deal team led by Justin T. Stolte, Brian Hintze, and Greg Sorensen, with assistance from Alexander Ross, Melanie von Staa Toledo, Caroline Silverstein, and Jeff Romano. Advice was provided on tax matters by Jared Grimley, with Christine Mainguy; on benefits and compensation matters by Julie Crisp, with Joseph Benedetto; on real estate matters by Kim Boras; on environmental matters by Nikki Buffa and Michael Dreibelbis, with Brian McCall and John Detrich; on insurance matters by Hannah Cary, with Joy Chen; on IP matters by Kieran Dickinson; on antitrust matters by Michael Egge, Patrick English, and Francesca Pisano; on data privacy matters by Jennifer Howes, Mitch Bennett, and Gaby Forte; on CFIUS matters by Ruchi Gill, with Elliot Hecht; on ABC matters by Nathan Seltzer; and on public disclosures matters by Ryan Maierson, with Kate Wang and David Lee.