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News Jun 17, 2016

Shearman & Sterling Advises Albemarle Corporation on Definitive Agreement to Sell Chemetall Surface Treatment Business to BASF

Shearman & Sterling is advising Albemarle Corporation on its definitive agreement to sell its Chemetall Surface Treatment business to BASF in a cash transaction valued at approximately $3.2 billion.

The transaction is subject to regulatory approvals and other customary closing conditions and is expected to close by year end.

Albemarle Corporation, headquartered in Charlotte, North Carolina, is a premier specialty chemicals company with leading positions in attractive end markets around the world. Albemarle develops, manufactures and markets technologically advanced and high value added products, including lithium and lithium compounds, bromine and bromine derivatives and catalysts used in a wide range of applications including consumer electronics, flame retardants, metal processing, plastics, contemporary and alternative transportation vehicles, refining, pharmaceuticals, agriculture, construction and custom chemistry services.

The Shearman & Sterling team included partners John Marzulli, Daniel Litowitz (both New York-Mergers & Acquisitions), Alfred Kossmann (Frankfurt-Mergers & Acquisitions), Doreen Lilienfeld (New York-Compensation, Governance & ERISA), Laurence Bambino (New York-Tax), James Webber (London-Antitrust); counsel Jason Pratt (New York-Environmental); and associates Cody Wright, Michael Dockery, Grace Jamgochian and Christopher Tomlinson (all New York-Mergers & Acquisitions), Stephanie O’Connor (New York-Compensation, Governance & ERISA) and Derek Kershaw (New York-Tax).