Kaye Scholer Represents Wacker Chemie AG in Acquisition of Polymers Venture
Kaye Scholer is representing Munich-based globally active chemical company Wacker Chemie AG in the $265 million acquisition of full ownership of its joint ventures with Air Products & Chemicals, Inc. Wacker's acquisition from its long-time joint venture partner focuses on the ventures' activities in vinyl acetate ethylene-based dispersions and dispersible polymer powders, and includes production facilities located in Calvert City, KY, South Brunswick, NJ, Cologne, Germany, and Ulsan, Korea, and commercial and research capabilities in Lehigh Valley, PA, and Burghausen, Germany. The sale, subject to regulatory approvals and customary closing conditions, is expected to be completed during the first quarter of 2008.
The Kaye Scholer team included partners Michael Blechman, Adam Golden, Jennifer Patterson and Thomas Yadlon, and associate Connie Ericson. Also working on the transaction were partners John Geelan, Arthur Woodard and Willys Schneider, and associate David Sausen.