Allen & Overy LLP and Shearman & Sterling LLP, now operating together as A&O Shearman following their 2024 combination, is a global law firm providing legal services across corporate, finance, regulatory, and disputes practices. The firm has offices across the Americas, Europe, the Middle East, Africa, and Asia-Pacific, advising multinational companies, financial sponsors, and lenders on complex cross-border matters.
For chemical and related industrial sectors, the firm’s work typically includes mergers and acquisitions, carve-outs and divestments, joint ventures, project development, debt and equity financing, antitrust and foreign investment clearances, trade and sanctions compliance, environmental and product compliance, intellectual property and technology issues, commercial contracting, and cross-border litigation and arbitration.
Transaction yields roughly $152 million cash; seller retains 11% and will operate a diketene unit in transition; expected close in Q4.
Divests 50% for ~€55m (subject to adjustments); buyer gains operational control. Put/call on remaining 50% exercisable from 2 years post-close at 7x two-year avg. pro-forma adj. EBITDA. Target H2 2027.
The divestments aim to optimize the portfolio, enhance cash flow, and focus on high-margin markets, while maintaining strategic access and customer service.
