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News from Members Dentons advises the Special Investments Group of Credit Suisse AG on acquisition financing for Chimcomplex

Dentons advises the Special Investments Group of Credit Suisse AG on acquisition financing for Chimcomplex

by Dentons December 17, 2018

Website www.dentons.com

A multi-jurisdictional Dentons team has advised the Special Investments Group of Credit Suisse AG on the €30 million financing for Chimcomplex’s acquisition of certain assets owned by Oltchim. The financing was completed in parallel with a credit extended by VTB Bank. The combined value of the transaction is €164 million. With the acquisitions, Chimcomplex is now one of the most important chemical manufacturers in Romania.

State-owned Oltchim has been in insolvency since the beginning of 2013, and the sale of its assets was conducted according to a restructuring plan and as part of a complex privatisation process.  As part of the transaction, Dentons advised on a range of complex issues arising from the restrictions of the insolvency-related sale.

The cross-border transaction involved co-operation of teams in three jurisdictions – Romania, the UK and the Netherlands. The Dentons team was led by Perry Zizzi, Romania Managing Partner and Head of the Banking and Finance practice in Bucharest. 

In addition to bank financing, Dentons also advised the client in relation to certain due diligence and structuring issues.

The full team working in this transaction included:

Bucharest: Perry Zizzi (Romania Managing Partner), Bogdan Papandopol (Partner), Claudiu Munteanu-Jipescu (Partner), Cristina Dăianu (Partner), Magdalena Răducanu (Managing Counsel), Septimiu Stoica (Of Counsel),  Oana Ionașcu (Senior Associate), Răzvan Constantinescu (Associate), Cosmin Vasilescu (Associate)

London: Catherine Astruc (Partner) and Adam Jones (Senior Associate)

Amsterdam: Marcel Janssen (Partner), Jack Schrijver (Senior Associate), Gerard Koster (Associate)

About Dentons

Dentons is the world's largest law firm, delivering quality and value to clients around the globe. Dentons is a leader on the Acritas Global Elite Brand Index, a BTI Client Service 30 Award winner and recognized by prominent business and legal publications for its innovations in client service, including founding Nextlaw Labs and the Nextlaw Referral Network. Dentons' polycentric approach and world-class talent challenge the status quo to advance client interests in the communities in which we live and work. www.dentons.com.

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