On December 4, 2023, Kemira Oyj announced that it had signed an agreement to divest its Oil & Gas-related portfolio to Sterling Specialty Chemicals LLC. The transaction, which is a combination of a share and assets sale, is intended to be completed by the end of the first quarter of 2024, subject to customary closing conditions and regulatory approvals. Kemira and Sterling Specialty Chemicals will also enter into a long-term partnership, consisting of contract manufacturing agreements in both directions. Seward & Kissel is pleased to have represented Sterling Specialty Chemicals in connection with this transaction.

Kemira is a global leader in sustainable chemical solutions for water-intensive industries, providing best-suited products and services to improve their customers’ product quality, process, and resource efficiency. Sterling Specialty Chemicals is a US subsidiary of Artek Group, a global industrial chemicals group based in India.

Seward & Kissel LLP (www.sewkis.com) is a leading New York law firm, originally established in 1890, offering legal advice emphasizing business, financial and commercial law and related litigation. The firm’s Business Transactions Group handles middle-market M&A, private equity, venture capital and joint venture transactions involving a wide variety of industries. The firm is ranked as Highly Regarded for Corporate/M&A by Chambers USA and is recommended by The Legal 500 in the middle-market M&A category, stating that Seward & Kissel “regularly acts for private equity firms, international businesses and financial services companies in a huge variety of domestic and cross-border corporate and financing transactions.”

The company’s press release describing this transaction is available here.