INEOS - Proposed joint venture with BASF

List of all recent work 

Slaughter and May is advising INEOS Industries Holdings Limited (INEOS) on a proposed 50/50 joint venture with BASF SE to combine their global business activities in styrene monomers polystyrene, acrylonitrile butadiene styrene, styrene-butadiene block copolymers and other styrene-based copolymers as well as copolymers blends. The new joint venture company will be called Styrolution. A letter of intent was signed by the two companies on November 29, 2010. Styrolution is expected to generate annual sales of more than EUR 5 billion.

Slaughter and May also advised INEOS on the acquisition of the other 50% shareholding in its 50-50 styrenics joint venture, INEOS NOVA, from NOVA Chemicals. Upon completion of the proposed joint venture with BASF, INEOS will transfer these activities into the new Styrolution group.

INEOS is the world’s third largest chemicals group and a leading manufacturer of petrochemicals, speciality chemicals and oil products.

Robert Stern (partner), Sally Wokes (associate); Competition: Claire Jeffs (Brussels partner), Peter Rowland (Brussels associate); Financing: Helen Griffiths (partner), William Fenn (associate)