Mayer Brown JSM Advises Hempel AG on the Buy-out of its Joint Venture Partner
7 January 2009
Mayer Brown JSM acted for Hempel AG on the conditional buy-out of its joint venture partner in Hempel-Hai Hong. The joint venture with the China Merchant Holdings (International) Co Ltd. Group was established in 1991.
Hempel is a global manufacturer and distributor of quality paint coatings (including marine paints, protective coatings, container coatings, decorative paints and yacht paints) and is a long standing client of the Frankfurt office of Mayer Brown. Hempel-Hai Hong is the China arm of the Hempel Group.
The total consideration for the sale of the sale shares, the assignment of the joint venture intellectual property rights and the grant of all other rights to Hempel is over HK$1.1 billion (US$145 million). Completion occurred 5 January 2009.
Lead Partner: Stephen Bottomley