Cuatrecasas, KPMG advise on ICIG´s acquisition of INEOS´ Sulphur Chemical business

Cuatrecasas has advised International Chemical Investors (ICIG) on its acquisition of Spain´s INEOS Sulphur Chemicals Spain, advised by KPMG Abogados

INEOS Enterprises has announced the completion of the sale of its Sulphur Chemicals business to International Chemical Investors Group.

INEOS Sulphur Chemicals business is Spain’s largest dedicated manufacturer of sulphuric acid and oleum serving end-applications ranging from agriculture to chemical intermediates. Its 400,000-tonne state of the art manufacturing facility with an excellent sustainability footprint is located in Bilbao, Northern Spain.

The business will become part of WeylChem’s advanced intermediates and reagents portfolio which includes an existing sulphuric acid and oleum plant located in Lamotte, Northern France. WeylChem is wholly owned by the International Chemical Investors Group.

The agreement is an important step in the continued development of both businesses and presents new opportunities to the 50 employees based in Bilbao as they join what will be one of the leading European Sulphur Chemicals companies.

A Cuatrecasas team made up of Barcelona office M&A partner Kai Fischer (pictured top left) and Public Law partner Juan Carlos Hernanz (pictured top right), Vitoria office Corporate & Commercial senior associate Kepa Izaguirre (pictured bottom left), Barcelona office Labour associate Beatriz Pinter (pictured bottom right) and Barcelona office junior associate Laura Díaz advised the purchaser on this transaction.

On the other hand, KPMG Abogados advised INEOS Enterprises Holdings. The team in charge of the transaction was formed by Jon Armendariz (head of the Legal practice in the Basque Country office) and Borja Carvajal (partner in charge of Regulatory, Administrative and Competition).