Shearman & Sterling represented Celanese Corporation in its transaction with Mitsui & Co. to form Nutrinova, a food ingredients joint venture. The signing of the transaction was announced on June 22, 2023.

Celanese will contribute assets, technology and employees of its Food Ingredients business and will hold a 30 percent stake in the joint venture. The parties anticipate closing the transaction in the second half of 2023.

Celanese is a global chemical leader in the production of differentiated chemistry solutions and specialty materials used in most major industries and consumer applications.

The Team