Paul Weiss has assisted Morgan Stanley Private Equity Asia (MSPEA) in its US$300 million equity investment into China’s Tianhe Chemicals (Tianhe), firming up the two companies’ strategic partnership.

Based in Northeastern Liaoning Province, Tianhe is China’s largest producer of lubricant additives. It was represented by Clifford Chance on this deal.

Following  completion of the deal, MSPEA’s Chief Investment Officer Homer Sun will become a board member of Tianhe, which also produces specialty fluorochemicals in its three factories. 

“We expect to closely collaborate to support Tianhe’s transition from a domestic leader to a major global player in specialty chemicals,” said Sun in a statement.

Tianhe CEO Wei Xuan said: “We look forward to working together to expand our global market reach and increase cooperation with overseas partners.”

Advising MSPEA was a Hong Kong, New York and Washington, D.C.  Paul Weiss team, led by corporate partners Jack Lange and Yvonne Chan, tax partners Jeffrey Samuels and David Mayo, and litigation partner Mark Mendelsohn.

Haiwen & Partners advised MSPEA as to PRC law, while offshore firm Conyers Dill & Pearman served as MSPEA’s BVI counsel. Commerce & Finance Law Offices and Ogier provided counsel to Tianhe on PRC law and BVI law, respectively.