Clifford Chance acted for Mitsui in $472.5 Million Acquisition of Celanese’s Food Ingredients Business
Clifford Chance, a renowned global law firm, provided legal counsel to Mitsui & Co., Ltd. in their recent deal to purchase a 70 per cent ownership
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Clifford Chance acted for Mitsui in $472.5 Million Acquisition of Celanese’s Food Ingredients Business Clifford Chance, a renowned global law firm, provided legal counsel to Mitsui & Co., Ltd. in their recent deal to purchase a 70 per cent ownership interest in Nutrinova Netherlands B.V. from Celanese Corporation, a leading global chemical and specialty materials company....
Clifford Chance acted for Mitsui in $472.5 Million Acquisition of Celanese’s Food Ingredients Business
Clifford Chance, a renowned global law firm, provided legal counsel to Mitsui & Co., Ltd. in their recent deal to purchase a 70 per cent ownership interest in Nutrinova Netherlands B.V. from Celanese Corporation, a leading global chemical and specialty materials company.
The acquisition amount totals $472.5 million (approximately JPY66 billion). Celanese will retain a 30 per cent stake in the joint venture going forward. Completion of the transaction is anticipated in the latter half of 2023, pending regulatory clearances.
Nutrinova specialises in the manufacturing and distribution of functional ingredients used in the production of low-calorie and low-carbohydrate foods. Their product portfolio includes acesulfame potassium, a high-intensity sweetener that is 200 times sweeter than sugar, as well as sorbic acid and potassium sorbate, which are food preservatives. Nutrinova is recognised as a trusted supplier of these high-quality ingredients to a wide range of customers, including major global food and beverage manufacturers.
This transaction further strengthens the longstanding partnership between Mitsui and Celanese. It aligns with Mitsui's objective of promoting health and well-being by enabling the production of nutritious and healthy food options.
“We are delighted to have advised Mitsui, our long-standing client, on this landmark transaction. Our work on this deal reflects the depth and breadth of the firm, particularly our ability to advise seamlessly and effectively on numerous complex issues spanning M&A, IP, compliance, tax, employment, antitrust and commercial contracts and across multiple jurisdictions. It is a true honour to be able to assist Mitsui on this journey to provide healthier solutions,” lead partner Natsuko Sugihara said.
The deal involved a comprehensive and diverse team of legal experts, spanning multiple jurisdictions and practice areas. Tokyo partner Natsuko Sugihara and Düsseldorf counsel Tobias Nogami Kamerling led the team, supported by Tokyo senior associate Yuki Hoshinaga, New York partners Benjamin Sibbett and Matthew Warner, and associate Susan Trepekli. Amsterdam partner Jeroen Thijssen and associate Sebastiaan van Steenbergen also played crucial roles.
The team addressed various aspects of the deal, including M&A, IP, tax, regulatory compliance, commercial contracts, data privacy, employment, antitrust, and environmental, real estate, and trade regulations. Düsseldorf counsel Florian Reiling and associate Judith Dany, along with New York counsel Daryl Fairbairn and associate Jennifer Saionz, handled the IP aspects. Amsterdam partner Michiel Sunderman and associate Alec Sanderson, along with New York associate Jason Sacks, provided tax-related advice.
Regulatory matters, commercial contracts, compliance, and data privacy were addressed by Düsseldorf partner Gunnar Sachs, counsel Haruka Okihara, senior associate Yannick Frost, and associates Marlene Kießling and Annabel Joschko. Employment aspects were handled by Frankfurt partner Ines Keitel, counsel Christopher Fischer, associate Linda Tahiri, New York associate David Walsh, and Amsterdam associate Najib Muslem.
Antitrust matters were managed by Tokyo counsel Masafumi Shikakura and senior associate Yuki Hoshinaga, Düsseldorf partner Dimitri Slobodenjuk, counsel Caroline Scholke, and senior associate Julius Schradin. The team also provided expertise in environmental, real estate, and trade regulation aspects, with Düsseldorf partner Thomas Voland, senior associate Maximilian Sablotny, associate Brigitta Olk, and London senior associate Kieran John McCarthy playing key roles.
Pascal Weber and Esther Giesbrecht, based in Düsseldorf, provided essential legal project management support and coordination for the entire transaction team.
In recent transactions, Clifford Chance provided advisory services to Mitsui on several strategic investments. These include Mitsui's investment in Euricom, a prominent European rice producer, as well as its investment in Rol-Ryż, a subsidiary of Euricom. Additionally, Clifford Chance assisted Mitsui in a merger between Certis and Belchim, both European affiliates involved in crop protection distribution.