Shearman & Sterling advised International Chemical Investors Group (ICIG) as they entered into, at the end of an auction process, a put option agreement, whereby ICIG committed to acquire 100% of international group sodium metal specialist MSSA (MSSA) from Japanese chemical company Nippon Soda.

The transaction is subject to approval of the German, Spanish and Portuguese competition authorities and of the French Ministry of economy as to FDI, and is expected to close in the first quarter 2023.

MSSA is the largest global and only non-Chinese producer of purified sodium metal, special alkali metals (such as potassium and lithium) and associated chemicals. As the sole player that can produce the highest purity grade of sodium metal, MSSA is the global supplier of choice for sophisticated pharmaceutical and industrial applications.

ICIG is a privately owned industrial international group with total sales of around €4 billion. Since inception in 2004, ICIG has grown to operate more than 20 independent chemicals and pharmaceutical businesses, all of which have origins in major global chemical or pharmaceutical corporations.

The Team