Slaughter and May advised Johnson Matthey Plc on completion of the sale of its Catalyst Technologies business

Slaughter and May advised Johnson Matthey Plc (JM) on the completion of the sale of its Catalyst Technologies business (CT) to Honeywell International, Inc. at an enterprise value of £1.325bn (on a cash and debt-free basis). Successful completion of the transaction represents a significant milestone in JM’s transformation into a focused, lean and cash-generative group. Slaughter and May is also advising JM on its proposed return, following completion of the disposal, of approximately £1bn to shareholders by way of special dividend (with share consolidation) and on-market buyback programme.

Slaughter and May is working closely with Johnson Matthey’s in-house legal team, led by Simon Price (General Counsel and Company Secretary) and Joanne Holmes (General Counsel, Operations).