Lundgrens assisted Trinseo in connection with their €1.137 billion acquisition of Arkema’s polymethyl methacrylates and activated methyl methacrylates businesses (PMMA).
The PMMA business has some well-established brand names such as Plexiglas® in the Americas, Altuglas®, Solarkote® and Oroglas®.
In a press release from Trinseo, Frank Bozich, Trinseo President and Chief Executive Officer, says: “This acquisition will be a catalyst for portfolio transformation toward becoming a higher margin, less cyclical solutions provider."
The contemplated transaction is subject to the approval of the relevant antitrust authorities and to an information and consultation process involving Arkema’s employee representative bodies. The deal is expected to be finalized mid-2021.
According to the press release from Trinseo, the transaction is expected to generate approximately $50 million in annual pretax cost synergies by 2023.
Lundgrens assisted Trinseo with tax due diligence, tax structuring work and advised in relation to the Danish tax aspects of the share purchase agreement.
The Lundgrens tax team consisted of:
Jakob Schilder-Knudsen
Email: jak@lundgrens.dk
Phone: +45 2247 4375
Mario Fernandez
Email: maf@lundgrens.dk
Phone: +45 5361 5859
Ingólfur Örn Ingólfsson
Email: ioi@lundgrens.dk
Phone: +45 5455 2324
