Dentons, a leading law firm, has advised KSA’s Farabi Petrochemicals on its first overseas acquisition, a 50% stake in Great Orient Chemical (Taicang) Co, Ltd, a linear alkyl benzene (LAB) production plant based in Taicang, China.

 

Farabi acquired the firm from ISU Chemical Co, Ltd of South Korea, through the acquisition of shares in a Singapore-based holding company. 

 

Farabi is a global leader in LAB and N-Paraffin production. This acquisition marks Farabi’s entry into chemical production in Asia and allows further growth of sales into the Asian market. 

 

Due diligence

Dentons teams across Saudi Arabia, Singapore, China and Hong Kong advised on due diligence, corporate structuring, anti-trust issues, and the drafting and negotiation of the transaction documents. 

 

The project reached a milestone on June 16, with the signing of the main acquisition documents, and closed on July 31.

 

"It was a pleasure to support Farabi Petrochemicals in successfully achieving this major milestone. Dentons was able to deploy its global expertise through a team of Dentons lawyers working across multiple jurisdictions," said Guy Danalis, Dentons’ Senior Legal Consultant, Riyadh.

 

Dentons team

The Dentons team was led by Senior Legal Consultants, Danalis and Edward Rose based in Dentons' Riyadh office, who were supported by lawyers from Dentons' Singapore, Hong Kong and Shanghai offices. 

 

The Dentons team in Singapore was led by Senior Partner, Evelyn Ang, assisted by Partner, Glenda Lee and Senior Associate, Natalie Chen on the Singapore corporate aspects. Partner, Rizuan Pathie assisted on competition law aspects. The Dentons Hong Kong team was led by Katie Yuen, while the Dentons Shanghai team was led by Senior Partner, Nancy Sun, assisted by Partner, Sunny Qin and Senior Associate, Lyndon Lin, and Paralegals, Leah Liu and Liam Lu.-- TradeArabia News Service