Latham & Watkins has represented Sinochem International (Overseas), a maker of chemical and rubber products, on its acquisition of a 40 percent equity stake in Jiangsu Sinorgchem Technology from Oxygen Partners, a subsidiary of private equity firm Carlyle Asia Partners III. Jiangsu Sinorgchem, advised by Skadden, Arps, Slate, Meagher & Flom, is a leading rubber additive producer.
The acquisition is one of several by Sinochem International, with the total investment reaching 2.82 billion yuan ($444 million). After the acquisitions, Sinochem International will hold a 60.976 percent stake in Jiangsu Sinorgchem, according to Reuters.
Latham & Watkins’ Hong Kong-based partner, Cathy Yeung, led the team that advised Sinochem International. “This is significant for Sinochem’s further expansion in the rubber chemical industry,” Yeung said speaking about the deal.
Kanishk Verghese is North Asia journalist at ALB. Follow us on Twitter: @ALB_Magazine.
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