Freshfields Bruckhaus Deringer, Boyanov & Co, and Filip & Company have advised Borealis on a binding offer from EuroChem for its nitrogen business. Hogan Lovells, PHH Rechtsanwalte, and Mishcon de Reya advised the EuroChem Group. Savoric & Partners, Oppenheim, and PRK Partners reportedly also advised Borealis.
According to Freshfields, EuroChem "intends to acquire Borealis' nitrogen business, which includes fertilizer, melamine, and technical nitrogen products and is valued at EUR 455 million under the terms of the offer."
Closing is expected in the second half of 2022, pending regulatory approval.
Borealis is a Vienna-headquartered circular polyolefin solutions provider, specializing in base chemicals, fertilizers, and the mechanical recycling of plastics. The company employs 6,900 employees and operates in over 120 countries.
EuroChem is a global fertilizer producer, manufacturing nitrogen, phosphates, and potash. The Group has manufacturing facilities in Russia, Belgium, Kazakhstan, and Lithuania, and a product reach of more than 100 countries.
"The addition of the Borealis nitrogen business to our portfolio, once approved, will strengthen our foothold considerably in such a key market as Europe," EuroChem CEO Vladimir Rashevskiy commented.
The Freshfields team included Vienna-based Partners Farid Sigari-Majd, Bertram Burtscher, Karin Buzanich-Sommeregger, and Stephan Denk, Principal Associates Daniel Lungenschmid, Gernot Fritz, Leonhard Prasser, Kathrin Wildmoser-Zeller, and Katharina Kubik, and Associates Maria Tumpel, Estella Dannhausen, Luca Mischensky, Anna Binder-Gutwinski, and Can-Michael Nural, as well as Munich-based Partner Barbara Keil and Associates Thomas Hornberger and Jan Postweiler, Paris-based Partner Gwen Senlanne and Counsel Tanguy Bardet, Brussels-based Partner Thomas Wessely and Principal Associate Laurent Bougard, and Hamburg-based Counsel Sascha Arnold.
The Boyanov & Co team included Partner Yordan Naydenov and Counsel Mihail Vishanin.
The Filip & Company team included Partner Alexandru Birsan and Associate Simona Ungureanu.
The Hogan Lovells team was led by London-based Partner Georgy Kalashnikov and Senior Associate Pasan Wijesuriya and included Poland-based Senior Counsel Marek Wroniak, Counsel Tomasz Zak, and Lawyer Michal Bialobrzeski and Hungary-based Associated Partner Christopher Noblet and Associate Dora Szilas, as well as UK-based Partner Jamie Rogers, Counsel Oliver Wilson, Senior Associates Katie Dunn and Ellie Rees, and Associates Nick Edwards, Sam Phillips, Alex Miller, Madalina Asandului, and Bea Watts; France-based Managing Partner Xenia Legendre, Partners Xavier Doumen, Dominique Mendy, Mikael Salmela, Patrice Navarro, Marion Guertault, and Christelle Coslin, Counsel Laure Nguyen, Senior Associates Maimouna Goudiaby, Julie Schwartz, and Clea Dessault, Associates Hortense Le Dosseur, Etienne Barjol, Margot Derumaux, Jessica Clemens-Jones, Sophie Han, Josephine Beaufour, Ilan Orenstain, and Thomas Gluzman, and Attorney-at-Law Gaylor Felix; Germany-based Partners Nikolas Zirngibl, Martin Gunther, Florian Unseld, Stefan Schroeder, Kerstin Neighbor, and Martin Pfluger, Counsel Marion Fischer, Senior Associates Thiemo Woertge, Golo Edel, and Tim Hinrichsen, Lawyer Lukas Claasen, and Associates Kilian Pfahl, Dominik Lang, Dennis Rein, Marie Rohrbach, Finn Poll-Wolbeck, Rebecca Reinhardt, and Charlotte Baecker; Italy-based Partners Francesca Angeloni and Leah Dunlop, Counsel Gaia Gelera, Senior Associate Simone Cucurachi, and Associates Stefano Maccauro and Anastasia Pallagrosi; and Belgium-based Partner Lourdes Catrain, Senior Associate Raphael Fleischer, and Associates Stephanie Seeuws and Sean Jonckheere.
The PHH Rechtsanwalte team included Partners Stefanie Werinos-Sydow, Julia Fritz, Nicolaus Mels-Colloredo, and Sebastian Mahr, Counsels Philip Rosenauer, Martina Gatterer, and Daniela Olbrich, Senior Associates Matthias Fucik, Sandra Kasper, and Wolfgang Guggenberger, Associates Theresa Karall, Ramona Maurer, Michael Lins, Fabian Puschner, and Dominic Zehetgruber, and Tax Consultant Andreas Baumann.
The Mishcon de Reya team included Partner Neil Baylis, Associates Amber Jeral, Alex Jennings, and Gwen Ballin-Reeler, and Trainee Solicitor Sophie Leppington.