Kerling - Proposed acquisition of Tessenderlo's European Chlor-Vinyls business

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Slaughter and May is advising Kerling Plc, a subsidiary of INEOS, on the proposed acquisition from Tessenderlo Group (Brussels) of its chlor-vinyls business and assets in Belgium, France and The Netherlands for €110 million in cash. The Tessenderlo Plastics Converting business is not part of the transaction.

The acquisition, which was announced on 14 June 2011, will strengthen Kerling's position as a leading manufacturer of PVC and Caustic Soda in Europe.

Kerling is one of the major chlor-alkali producers in Europe, a global leader in chlorine derivatives and Europe's largest PVC manufacturer. The company also has leading UK market positions in sulphur chemicals and salt, along with significant activities in brine, biodiesel and chlorinated paraffins.

Robert Stern (partner), Simon Evers (associate), Kelly Carmichael (associate); Competition: Philippe Chappatte (partner), Claire Jeffs (partner), Robert Smith (associate); Financing: Charles Harvey-Kelly (partner), Nicola Costello (associate), Meherzad Bilimoria (associate); Commercial Real Estate: Ed Keeble (partner), Catriona Berman (associate), Samantha Brady (associate); Tax: Graham Iversen (partner), Ceinwen Rees (associate); IP/IT: David Ives (partner), Rebecca Even (associate); Pensions and Employment: Jonathan Fenn (partner), Eleanor Hart (associate)