Bain Capital sells two Chinese chemical companies

    November 22, 2011 | BY

    clpstaff &clp articles

    French chemical company Arkema will purchase two Chinese portfolio companies from Bain Capital for US$365 million. The companies are Zhangjiagang-based…

    French chemical company Arkema will purchase two Chinese portfolio companies from Bain Capital for US$365 million. The companies are Zhangjiagang-based Hipro Polymers and Hengshui-based Casda Biomaterials. Both are predominantly owned by a joint venture between private Chinese chemical company Feixiang Chemicals and Bain Capital.

    The deal closing is subject to PRC government approvals and is expected to be completed in early 2012.

    A Hong Kong-based Ropes & Gray team, led by Brian Schwarzwalder, is representing Bain Capital. PRC counsel to Bain Capital was Summit Law Firm. Summit Arkema is being advised by Shanghai Herbert Smith partner Betty Tam.

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