De Brauw assisted Westlake Chemical Corporation in its acquisition the global epoxy business of Hexion Inc. for approximately USD 1.2 billion. Based in Rotterdam, The Netherlands, Hexion’s epoxy business is an industry leader in the manufacture and development of specialty resins, coatings and composites for a variety of industries, including high-growth and sustainability-oriented end-uses such as wind turbine blades and light-weight automotive structural components. In the twelve months ended September 30, 2021, Hexion’s epoxy business had net sales of approximately USD 1.5 billion. With this transaction, which is anticipated to be completed in the first half of 2022 following customary closing conditions, Westlake will significantly expand its integrated business by adding a downstream portfolio of coatings and composite products to its leading chloro-vinyls businesses.
The De Brauw team consisted of Klaas de Vries and Heather Giannandrea. The overall global transaction was lead for Westlake by Cleary Gottlieb Steen & Hamilton.