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Clifford Chance advises Indorama Ventures on the acquisition of Kordárna

13 November 2018

Clifford Chance advises Indorama Ventures on the 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 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, which closed on 30 October 2018, includes one production site in the Czech Republic and one in Slovakia and the company employs over 750 employees.

Commenting on the transaction, Alex Cook, Clifford Chance's office managing partner in Prague, said: "We are delighted to have advised Indorama Ventures on this transaction, which complements their growth strategy in the automotive sector".

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 associate Jakub Veselý and junior associates Zuzana Morávková and Andrej Havko.