News

Dentons advises Draslovka on US$520 million acquisition of Chemours Mining Solutions Business

Global law firm Dentons advised Czech-based global chemicals producer Draslovka Holding on its agreement to acquire the mining solutions business (Chemours Mining Solutions) from NYSE-listed The Chemours Company for $520 million. The transaction is expected to close in the fourth quarter of 2021 subject to regulatory approvals and other closing conditions.

Dentons also advised Draslovka on the Term Loan B financing of the acquisition arranged by JP Morgan.

Chemours Mining Solutions operates a solid sodium cyanide plant in Memphis, Tennessee, which principally services the Americas region. The acquisition marks Draslovka’s first major investment in the US, and in combination with its recent agreement to acquire Sasol’s sodium cyanide business in South Africa, positions Draslovka as a global player with a significant industry footprint. Dentons advised on the South African deal as well.

Partners Petr Zákoucký (Prague), Ilan Katz (New York) and Luis Torres (Washington, DC), along with counsel Adrian Stewart (New York) and associate Barbora Obračajová (Prague), led Dentons’ legal team on the deal, supported by managing associate Asher Bundlie, managing associate Natalie Hoeper, associate Cameron Low, (New York) and partner Rob Irving (Budapest/Prague).

The cross-border, multi-competency team also included:

US: Partners Todd Silliman (Atlanta), Stephen Libowsky (Chicago), Erin Bass (Los Angeles), Joel Bock (New York), Timothy Santoli (New York), Robert Barbarowicz (Los Angeles), Nicholas Williams (New York), and Michael Zolandz (Washington, DC); counsel Nikki Fanous (Dallas), Andrew Dalin (New York), Sarah Syed (Los Angeles), and Andrew Bates (New York); and associates Jen Huber (Atlanta), Katherine Knickelbein (Pittsburgh), and Shahrzad Noorbaloochi (Washington, DC)

Prague, Czech Republic: Partner Jiří Tomola, and associates Michal Pelikán, Lucie Kubínyiová, Anna Urbanová, Martin Fiala, Justina Bodláková, David Šutko, Jan Blažek, and senior associate Ivo Hartmann,

Mexico City, Mexico: Partner Jorge Jiménez and associates Imanol Ramírez, Julio Osornio and Erick Nuño

Santiago, Chile: Partners Ignacio Pera, Karlfranz Koehler and Santiago Ried,

Toronto, Canada: Partners Alex Farcas and Adam Goodman, senior associate Kenda Shaheen

Petr Zákoucký commented, “This transaction represents another important milestone for Draslovka and we are thrilled to have been able to play a role in this tremendous success. We look forward to continuing to support our client as they build their global portfolio.”

Ilan Katz added “Dentons is excited to assist Draslovka in connection with their first investment in the US and I hope that this is just the beginning of an exciting new chapter of their global journey. We see quite admirable interest.”

Pavel Brůžek, Chairman of the Board of Directors of Draslovka said, “We are grateful to have had the Dentons team by our side to facilitate a smooth and efficient acquisition process. Once again, we were impressed with the skills, flawless coordination, and dedication of this outstanding team. They are essential to our global growth.”

Dentons provided comprehensive buy-side legal advisory. J.P. Morgan acted as Draslovka’s transactional advisor and financing arranger, and PwC is acting as financial and tax advisor.

***

About Draslovka

Draslovka Holding a.s. (Draslovka) is a global leader in cyanide-based chemical specialties and agricultural chemicals including next generation fumigants and biocides. A private holding company based in the Czech Republic, it is owned by four Czech families collaborating within a framework of bpd partners, a leading family office based in Prague. Draslovka has more than 100 years of experience in hydrogen cyanide (HCN) production and HCN chemistry and specializes in the production of fully synthetic and highly purified liquid HCN, which undergoes further processing for application in a variety of downstream products ranging from the mining through to agriculture sectors. Draslovka aims to be a leading global player in the production of cyanides for use in synthesis, mining, and industrial and agricultural applications.

About Dentons

Dentons is the world's largest law firm, connecting top-tier talent to the world's challenges and opportunities with 20,000 professionals including 12,000 lawyers, in more than 200 locations, in more than 80 countries. Dentons' polycentric and purpose-driven approach, commitment to inclusion and diversity, and award-winning client service challenge the status quo to advance client interests.