Uruguay’s FERRERE has helped Dutch leather company Stahl buy the Uruguayan leather services business of Swiss specialty chemicals company Clariant, working alongside the Paris and Amsterdam offices of Clifford Chance LLP.
Clariant was advised by White & Case LLP in Europe. Latin Lawyer was unable to determine its Uruguayan counsel. The transaction is part of a worldwide acquisition by Stahl of Clariant’s leather services businesses and also involved deals in Argentina, Brazil, Colombia and Mexico. The Uruguayan leg of the sale closed on 12 December.
Deals in Brazil and Colombia, where Clariant is being advised by Demarest Advogados and Posse Herrera Ruiz, are ongoing, however the status of transactions in Argentina and Mexico, and the counsel involved, could not be verified at the time of publication.
The global acquisition remains subject to ongoing regulatory approvals in France, where Stahl’s owner, investment company Wendel Group, is based.
Clariant received US$94 million for the global sale, as well as a 23 per cent stake in the Dutch company, with Wendel remaining as the majority shareholder.
Article published in Latin Lawyer on Thursday, 16 January 2014.