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Clifford Chance advises Indorama Ventures on the proposed acquisition of Kordárna

9 July 2018

Clifford Chance advises Indorama Ventures on the proposed acquisition of Kordárna

Clifford Chance has advised Indorama Ventures Public Company Limited (IVL), one of the world's leading producers in the intermediate petrochemicals industry and a leading global manufacturer of wool yarns, on the proposed acquisition of Kordárna Plus, a.s., a Czech-based industrial textile producer and a leading European producer of tire cord fabrics. The sellers are a group of shareholders led by Jet Investment, a private equity investment company based in Brno, Czech Republic.

The acquisition includes production sites in the Czech Republic and one in Slovakia and the company and its subsidiary KORDPLAST s.r.o. employ over 750 employees. The transaction is expected to be completed in the second half of 2018, subject to regulatory approvals.

Commenting on the transaction, Alex Cook, Clifford Chance's office managing partner in Prague, said: "We are delighted to be advising Indorama Ventures on this transaction, which complements their growth strategy in the automotive sector. We look forward to assisting IVL on the path to closing the transaction as soon as possible".

More information can be found in Indorama’s press release, which is available here.

The Clifford Chance team advising on the transaction was led by the Prague office's managing partner and head of the corporate practice Alex Cook with associate Veronika Kinclová acting as executive lawyer. The team further comprised of associates Jakub Veselý and Dominik Vojta and junior associates Zuzana Morávková, Matěj Kučera and Andrej Havko.