Egorov Puginsky Afanasiev & Partners Ukraine advised Kemira Oyj

Egorov Puginsky Afanasiev & Partners Ukraine has assisted Kemira Oyj with obtaining merger clearance with the Antimonopoly Committee of Ukraine for the acquisition of the paper chemical business of  AkzoNobel,  the largest global paints and coatings company. The value of the transaction is EUR 153 million. As the result of the transaction, six of the AkzoNobel paper chemicals manufacturing sites and approximately 350 employees have been transferred to Kemira.

Kemira has also increased the production capacity of its own paper chemical manufacturing sites in order to realize expected production synergies. The integration period of the transaction is expected to last approximately two years and result in EUR 15 million net synergies on an annualized basis.

The production sites transferred to Kemira are located in South Korea, Thailand, Indonesia, Australia, Spain and Italy.

EPAP's Ukraine competition team was led by partner  Oksana Ilchenko and comprised counsel Oleg Boichuk, associates  Oksana Franko  and  Nadiia Dmytrenko, and junior associate  Rostyslav Zeleniuk.