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Manufacturing and Industrial Services
With more than 60 years of international experience in project financing, capital markets, M&A and construction law, Cleary Gottlieb continues to be a pioneer at the forefront of manufacturing and industrial services. The firm has worked on many innovative and first-of-their-kind project financings and construction projects. With a network of 14 integrated offices on four continents and a longstanding worldwide presence, we offer our clients within the manufacturing and industrial services sector expertise across every practice area and cross-border experience that is virtually unmatched.
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Selected Experience
- Counsel to BHP Billiton in connection with its $40 billion all-cash offer to acquire Potash Corporation of Saskatchewan.
- Counsel to The Stanley Works in its acquisitions of CRC-Evans, Xmark, Sonitrol Corporation, and HSM Electronic Protection Services, and the sales of its CST/berger laser leveling and measuring business to Robert Bosch Tool Corporation, its home décor business to Wellspring Capital Management, and its entry door business to Masonite International Corporation.
- Counsel to Western Digital in the global antitrust aspects of its $4.8 billion acquisition of Hitachi’s hard drive business.
- Counsel to Goldman Sachs, as financial advisor to Diversey Holdings, in its $4.3 billion sale to Sealed Air Corporation.
- Counsel to The Dow Chemical Company on the antitrust aspects of its sale of its global polypropylene business to Brazil-based Braskem, the largest petrochemical company in the Americas.
- Counsel to SANLUIS Co-Inter, the direct wholly-owned subsidiary of Mexican autoparts company SANLUIS Corporación, in the restructuring of $248 million of indebtedness through a Mexican concurso mercantil proceeding.
- Counsel to an ad hoc group of bondholders in the closing of the restructuring of approximately $420 million of Industrias Unidas’ indebtedness.
- Counsel to LyondellBasell, one of the world’s largest plastics, chemical, and refining companies, in its $1 billion unsecured notes offering and concurrent $2.8 billion exit tender offer.
- Counsel to PETRONAS Chemicals Group in its approximately $4.7 billion initial public offering, the largest IPO ever in Southeast Asia.
- Counsel to Asahi Kasei in its $2.21 billion cash tender offer for ZOLL Medical.
- Counsel to Honeywell International in its $1.4 billion public offering of notes and related tender offer and redemption.
- Counsel to Fintech Advisory, as a creditor to Vitro, in defeating the attachment of bonds issued in a tender offer by Vitro in proceedings against Vitro brought before the New York Supreme Court on behalf of Aurelius Capital Master and Elliott International.
- Counsel to Rexel in the negotiation of two new syndicated multicurrency senior revolving credit facilities, totaling €1.7 billion, as part of the refinancing of Rexel's existing €2.7 billion senior credit facility. Previously counsel to Rexel in its €3 billion acquisition of Hagemeyer and subsequent divestiture of Rexel's German business and sale of a portion of Hagemeyer's businesses to Sonepar.
- Counsel to Precision Castparts Corp. in its acquisition from a foreign private equity fund of an indirect 49 percent interest in Yangzhou Chengde Steel Tube Co. Ltd., a leading PRC seamless pipe company.
- Counsel to 3M in its $943 million acquisition of Cogent through a tender offer followed by a second step merger.
- Counsel to Henkel KGaA in many transactions, including its £2.7 billion acquisition of the adhesives and electronic and engineering materials businesses of Imperial Chemical Industries (ICI), its $2.9 billion "cash-rich split-off" transaction with Clorox, its $2.9 billion acquisition of The Dial Corporation, its purchase of several deodorant brands from Gillette, and the divestiture of its stake in Ecolab.
- Counsel in HeidelbergCement's €2.3 billion capital increase and €2.1 billion placement of shares from the holdings of existing shareholders, International Financing Review’s "EMEA Equity Issue of the Year."
- Counsel to The Dow Chemical Company in obtaining U.S. Federal Trade Commission and European Commission clearance of its $18.8 billion acquisition of Rohm and Haas, on worldwide antitrust aspects of the subsequent sale of its refinery business to TOTAL, and on the U.S. antitrust aspects of its sale of Morton Salt to K&S Aktiengesellschaft and the sale of its calcium chloride business to Occidental Petroleum.
Best Syndicated Loan
(Nemak’s dual-currency loan)
LatinFinance (2012)
Best Malaysian Deal of the Year, Best Equity Deal of the Year
(Petronas Chemicals $4.1 billion IPO)
FinanceAsia (2010), Islamic Finance (2011)
Cross-Border M&A Deal of the Year and M&A Deal of the Year
(Mittal’s Acquisition of Arcelor)
Acquisitions Monthly, International Financial Law Review (2007)
Latin American Loan of the Year, Syndicated Loan of the Year and Corporate Finance Deal of the Year (Financing of CVRD’s acquisition of Inco)
International Financing Review, LatinFinance, Latin Lawyer (2007)
“This M&A heavyweight certainly handles a steady diet of private equity work, regularly advising … industrial clients in big-ticket LBOs.”
Chambers Europe (2007)
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