ALRUD Law Firm experts represented INEOS group, one of the leading global manufacturers of petrochemicals, specialty chemicals and oil products, in the procedure of obtaining the FAS Russia approval for acquisition of BP Chemical Business from BP plc, a multinational oil and gas company. The transaction was closed on 01 January 2021.
The deal allowed INEOS to significantly expand the geographic and product scope of its business, and to create two new units: INEOS Aromatics, specializing in manufacturing PTA (purified terephthalic acid) and PX (paraxylene), which are used in production of thermoplastics, textiles, film, and other products, and INEOS Acetyls, manufacturing acetic acid and several derivative products and supplying it to various industries.
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ALRUD experts provided full support of the transaction approval procedure in Russia, from collecting the necessary documents to communicating with FAS Russia during the transaction’s analysis. The strategy developed by ALRUD experts allowed INEOS to obtain the unconditional clearance in Russia, within less than three months, which is the tightest possible time limit for this type of transactions.
The ALRUD team headed by Senior Partner Vassily Rudomino and Partner German Zakharov (Competition/Antitrust Practice Partner) included also Senior Associate Ruslana Karimova, Senior Attorney Alexander Artemenko, and Trainee Olga Gorokhova.
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