Slaughter and May is advising Grupo Villar Mir - proposed combination involving its subsidiary Grupo FerroAtlántica
Slaughter and May is advising Grupo Villar Mir, one of Spain's largest private companies and a leading global industrial group, on English law aspects of the proposed combination of its wholly-owned subsidiary Grupo FerroAtlántica (FerroAtlántica) with Globe Specialty Metals, Inc. (GSM).
It was announced on 23 February 2015 that the two companies had entered into a definitive agreement to combine in an all-stock transaction to create a leading international silicon and specialty metals producer, with a combined enterprise value of approximately US$3.1 billion. The two companies will be combined under a newly-formed UK incorporated holding company which will be headquartered in London and listed on the NASDAQ. The combined company will employ approximately 4,700 people globally and will operate 26 factories and nine mines in nine countries.
The transaction is expected to complete in the fourth quarter of 2015, subject to customary closing conditions, including regulatory approvals in the U.S. and other jurisdictions.
FerroAtlántica is a world leading producer of silicon metal, silicon alloys and ferroalloys, with a majority of its revenues coming from Europe. Uría Menéndez and Cravath, Swaine & Moore LLP are the lead advisers to FerroAtlántica.
GSM is one of the largest global silicon metal and silicon-based alloy producers, with almost 90% of its revenues coming from North America. Latham & Watkins LLP is the lead adviser to GSM.