On February 28, 2011, Olin Corporation announced that it has acquired PolyOne Corporation’s 50% interest in the SunBelt Chlor Alkali Partnership for $132.3 million in cash plus the assumption of a PolyOne guarantee related to the Partnership debt. With this acquisition, Olin becomes the 100% owner of SunBelt. Cravath represented Olin in connection with this transaction.
The Cravath team included partners Robert I. Townsend and George F. Schoen and associates Mina M. Farbood and Dong (Andy) S. Ham on corporate matters; and partner Michael L. Schler and associate Sonia Rodriguez on tax matters.