Simpson Thacher is representing private equity funds managed by Blackstone in connection with their acquisition of Acetow from Solvay for an enterprise value of around €1 billion.
Acetow is a leading global producer of cellulose acetate tow predominantly used in cigarette filters. Headquartered in Germany, the business has a recognized global footprint with over 1,300 employees worldwide operating across five production sites in Germany, France, Russia, the U.S. and Brazil. Completion of the transaction is expected in the first half of 2017 and is subject to customary social procedures and approval by the relevant antitrust authorities.
The Simpson Thacher team includes Clare Gaskell, Ying Yi Soh, Adam Wollstein, Jakob Egle and Philipp Nuernberger (Corporate); Brian Gluck, Antti Pesonen, Kavita Davis, Michael Chao and Katherine Chen (Banking and Credit); David Vann, Etienne Renaudeau, Tara Kelly and Joseph Thomas (Antitrust); and Meredith Jones and Joseph Tootle (Tax).