Client name
Celanese Corporation  - JV partner
Other parties involved
The Blackstone Group L.P.
Nature of transaction
Together with Kirkland & Ellis LLP, De Brauw advised Celanese Corporation, a global technology, chemistry and specialty materials company, on the structuring of a joint venture through, i.a., Dutch entities with private equity funds managed by Blackstone, one of the world's leading investment firms. The combination will create a global acetate tow supplier. Acetate tow is used in the manufacturing of cigarette filters. It is estimated that the joint venture will generate an annual revenue of about $1.3 billion, with around 2,400 employees. Celanese will own 70% of the joint venture.
Value of transaction
JV approx. $1.3 billion revenue; JV to distribute $1.6 billion in cash to Celanese at close
Date deal
18 June 2017

De Brauw involvement
Local counsel
Other advisors
Kirkland & Ellis LLP - lead counsel for Celanese Corporation
Simpson Thacher & Bartlett LLP - lead counsel for Blackstone
Stibbe - local counsel for Blackstone
De Brauw lead partner
Mark Rebergen, Maarten van der Weijden, Paul Cronheim
De Brauw team
Paul Cronheim, Maarten van der Weijden, Mark Rebergen, Joost Steenhuis and Tes Flapper.