Shearman & Sterling is representing The Dow Chemical Company in the divestiture of its global polypropylene business to Braskem. The transaction is expected to close by the end of the third quarter 2011, pending regulatory approval.

The Dow Chemical Company's diversified industry-leading portfolio of specialty chemical, advanced materials, agrosciences and plastics businesses delivers a broad range of technology-based products and solutions to customers in approximately 160 countries and in high-growth sectors such as electronics, water, energy, coatings and agriculture. Braskem, headquartered in São Paulo, is the largest petrochemical company in the Americas and the world’s third largest producer of polypropylene.

The Shearman & Sterling team was led by partner George Casey (New York-Mergers & Acquisitions) and counsel Heiko Schiwek (New York-Mergers & Acquisitions) and included partners Doreen Lilienfeld (New York-Executive Compensation & Employee Benefits), Douglas McFadyen (New York-Tax), Thomas König (Frankfurt-Mergers & Acquisitions), Bodo Bender (Frankfurt-Tax), and Samuel Waxman (New York-Intellectual Property Transactions); counsels Robert Fagiola (New York-Real Estate), Jake Pratt (New York-Real Estate/Environmental), Joachim Grittmann (Frankfurt-Environmental), and Gregor Page (London-Project Development & Finance); and associates Tammara Fort (New York-Mergers & Acquisitions), Jordan Altman (New York-Intellectual Property Transactions), Joanne Lynch (New York-Real Estate), Alexander Schiel (Frankfurt-Mergers & Acquisitions), Peter Breschendorf (Frankfurt-Mergers & Acquisitions) and Norbert Mückl (Munich-Tax).
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