Mexichem’s Acquisition of INEOS’s Fluorochemicals Business

On February 2, 2010, INEOS announced its agreement to sell its fluorochemicals business to Mexichem, a leading Latin American producer of PVC, chloralkali, hydrofluoric acid and fluorospar. Cravath is representing INEOS in this transaction. This agreement will bring together the world’s largest fluorospar supplier and HF producer with a leading worldwide fluorochemicals company. The transaction includes the international business and assets related to INEOS’s fluorochemical operations located in North America, Europe and Asia. The transaction, subject to regulatory approvals, is expected to close by the middle of this year.

The Cravath team includes partner Craig F. Arcella and associates Leigh M. Harlan, Samuel J. Whittington, Victor V. Ludwig and Bryan C. Friedman on corporate matters; partner Eric W. Hilfers and associate Lynne A. Lacoursiere on executive compensation and benefits matters; partner Michael L. Schler and associate Jonathan J. Katz on tax matters; associate Annmarie M. Terraciano on environmental matters; and senior attorney John Gerhard on real estate matters. Timothy C. Dawe and Nicholas M. Foley also worked on corporate matters; Kevin E. Manz and Matthew Y. Lau worked on executive compensation and benefits matters and tax matters, respectively.