The lawyers of the Sołtysiński Kawecki & Szlęzak law firm advised CIECH Group on the sale of company CIECH Żywice.
CIECH Żywice is a leading Polish manufacturer of resins whose business focus is the combined production and sale of nearly 1000 products, including epoxy, polyester, saturated and unsaturated resins, approximately 50% of which is exported. It also operates its own R&D center. At the beginning of 2020 CIECH Żywice was spun off from CIECH Sarzyna which reflected the Strategy of the CIECH Group aimed at simplifying and clarifying the structure of the CIECH Group and at focusing on the development of the key business lines.
LERG is one of the major manufacturers of resins in Poland. In addition to production and export sales, LERG operates its own research and development facilities and has been in cooperation with numerous research centers. The company has been undergoing dynamic growth which has in recent years led to the rise of a strong and diversified chemical industry group with global operations.
The Contract Value (equal to the enterprise value, EV) which accounts inter alia for the price of disposal of the Shares approximates PLN 160 million (one hundred and sixty million zlotys).
The Transaction was closed on 1 March 2021, after LERG obtained CCPO’s clearing for the concentration.
During the spin-off of CIECH Żywice from CIECH Sarzyna and in the course of the Transaction the CIECH Group was given comprehensive support by a team of SK&S lawyers supervised by Krzysztof Pawlisz, Partner and Andrzej Motyka, Partner. The transaction team included Karol Skibniewski (Senior Associate), Anna Bartosiewicz (Associate), Mateusz Grześków (Associate) and experts in other fields of practice: Krzysztof Kanton, Partner leading the competition law practice, Tomasz Młodawski (Senior Counsel), dr Łukasz Wyszomirski (SeniorCounsel), Bartłomiej Dębski (Senior Associate), Natalia Łabęda (Associate), Leszek Biały (Senior Associate), Michał Oleś (Associate), Justyna Młodzianowska (Of Counsel).
