BASHAM ADVISED ENI ACQUISITION OF THE 40% OF THE ITALIAN FINPROJECT TO CREATE AN INTEGRATED SUPPLY CHAIN FOR SPECIAL POLYMERS
Mexico City, September 2020.- BASHAM, RINGE Y CORREA, through its Partners Juan José López de Silanes, Jesús Colunga, Jorge de Presno and Álvaro Gonzalez and the Associates Mónica Mora, León Jimenez, and Mariana Vargas, advised chemical company Versalis, Eni's in the Mexican Legal aspects regarding the acquisition of 40% of Finproject, the Italian leader in the compounding sector and the production of ultralight products, from the VEI Capital fund with the aim of creating value by integrating the respective production chains.
Finproject has had presence in diverse countries, including Mexico, Canada, China, India, Mexico, Romania and Vietnam.
Our participation comprised the Mexican legal corporate, regulatory, labor, administrative, litigation, antitrust and intellectual property aspects of the transaction, including in connection with Finproject subsidiary in Mexico, which was part of the acquisition by Versalis, Eni's.
This strategic operation, the first step in a partnership that may be further developed, will create a new industrial platform that leverages the synergy between the expertise of Versalis, the leading Italian polymer manufacturer, and the technological and creative drive of the Finproject Group. The aim is to jointly develop innovative solutions for major brands in the fashion, design and footwear sectors, as well as for industrial applications such as cables, pipes, renewable energy, construction and automotive sectors, with significant international growth prospects.
This acquisition marks Versalis’ entry into the high-performance formulated polymer applications sector, extending its positioning towards businesses that are more resilient to the volatility of the chemical scenario.
Other firms involved: Chiomenty (Italy) and Toffoleto de Luca Tamajo.