Clifford Chance He Ping advises LB Group on global regulatory filings for acquisition of Venator's titanium dioxide assets in the UK

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21 May 2026

• Yong Bai, Jennifer Storey, Michael Rueter, Greg Hayes, Eloise Robson, Rob Fitzgerald-Crisp, Cecilia Moore, Anastasios Tomtsis, Dimitri Slobodenjuk, Simon Wattenberg, Katrin Schallenberg, Lina Kefi, Hendrik Coppoolse, Iwona Terlecka, Aleksandra Mielcarek, Miguel Odriozola, María Begoña Barrantes Díaz, Diego Doménech, Daniel Hernández Torres, Majid Alsheikh, Sultana Aljomaih, Bader Alasmi, Itir Çiftçi, Goktug Polat, Sabra Ferhat, Salma Chaouni
• Beijing, Shanghai, London, Brussels, Düsseldorf, Paris, Warsaw, Madrid, Riyadh (AS&H Clifford Chance), Istanbul, Dubai, Casablanca

Clifford Chance He Ping advises LB Group on global regulatory filings for acquisition of Venator's titanium dioxide assets in the UK

Clifford Chance He Ping Joint Operation Office* has advised LB Group Co., Ltd. (LB Group) on the successful completion of all required global regulatory filings in connection with its acquisition of certain assets relating to the titanium dioxide (TiO₂) business of Venator Materials UK Ltd (Venator UK), with unconditional clearances obtained from authorities across all relevant jurisdictions.

The regulatory filings involved complex and detailed market and competition analyses across multiple jurisdictions. The reviews required close collaboration with industry experts and economists, as well as careful consideration of both competition and non‑competition factors, including the assessment of novel theories of harm. The antitrust teams across Clifford Chance and Shanghai He Ping Law Firm provided effective, sophisticated and seamless support throughout the process, helping LB Group manage its regulatory strategy, navigate extensive engagement with competition authorities, and progress the reviews to timely clearance.

Lead partner Yong Bai said, "We are delighted to have assisted the client in navigating a complex regulatory environment to complete this important transaction. This sends a strong and timely positive signal for Chinese companies pursuing investment opportunities in Europe."

The core team includes counsel Xiang Li⁺ in Shanghai and associate Ziwen Wang in Beijing. The cross-jurisdiction transaction also involved many other Clifford Chance offices and local counsel, including:

• Beijing: Michael Yan and Yiyang Wang;
• London: Jennifer Storey, Michael Rueter, Greg Hayes, Eloise Robson, Rob Fitzgerald-Crisp, Cecilia Moore, Charlie McCann and Aishwarya Vydianathan;
• Brussels: Anastasios Tomtsis;
• Dusseldorf: Dimitri Slobodenjuk and Simon Wattenberg;
• Paris: Katrin Schallenberg, Lina Kefi, Hendrik Coppoolse and Myriam Mally;
• Warsaw: Iwona Terlecka, Marie Terrillon, Aleksandra Mielcarek, Krzysztof Rot and Slawomir Nawrocki;
• Madrid: Miguel Odriozola, Begoña Barrantes, Diego Doménech and Daniel Hernández;
• Riyadh: Majid Alsheikh, Sultana Aljomaih and Bader Alasmi (A&SH Clifford Chance);
• Istanbul: Itır Çiftçi, Ekin Öner, Goktug Polat and Zeki Ozturk (CE Partners in association with Clifford Chance);
• Dubai: Sabra Ferhat;
• Casablanca: Salma Chaouni.

Compass Lexecon acted as the economist on the transaction.

LB Group is a leading manufacturer of high‑performance TiO₂ pigments. With more than 35 years of experience in TiO₂ pigment manufacturing, LB Group produces a broad range of pigments for all major applications using both the sulfate and chloride processes.

The acquisition includes assets relating to the TiO₂ business held by Venator UK, a subsidiary of Venator Materials PLC, including real estate, machinery, spare parts, business records, intellectual property, inventory and other related assets.

 

* Clifford Chance LLP and Shanghai He Ping Law Firm have established a Joint Operation in the China (Shanghai) Pilot Free Trade Zone under the name Clifford Chance LLP and Shanghai He Ping Law Firm (FTZ) Joint Operation Office with the approval of the Shanghai Bureau of Justice.

+ From Shanghai He Ping Law Firm.

Press contact: Fenix Wong

 

和平高伟绅联营办公室就龙佰集团收购泛能拓英国钛白粉业务相关资产所涉全球监管审批提供法律服务

和平高伟绅联营办公室*就龙佰集团股份有限公司（“龙佰集团”）收购泛能拓材料英国有限公司（VENATOR MATERIALS UK LIMITED）（“泛能拓英国”）钛白粉业务相关资产所涉及的全球监管审批提供全流程法律服务。本交易在所涉及的司法辖区均获得无条件监管审批。

本交易的监管审批工作涉及诸多司法辖区的复杂且详尽的市场与竞争分析。申报过程涉及竞争与非竞争因素的全面考量、对新型损害理论的评估以及律师团队与行业专家和经济学家的紧密合作。高伟绅与上海和平律师事务所的反垄断团队在该过程中提供了专业有效且协同有力的支持，协助龙佰集团制定监管策略，有效应对各监管机构的问答及沟通，推动审查顺利、及时获批。

高伟绅牵头合伙人柏勇律师表示："我们很荣幸能够协助客户在复杂监管环境中顺利完成这一重要交易，这也为中国企业赴欧投资释放了及时且积极的信号。”

本项目监管团队核心成员包括上海和平律师事务所*的资深顾问律师李响以及高伟绅北京办公室的王资文。此外，来自高伟绅多个办公室及当地合作律所的律师也为本交易提供了支持，关键成员包括：严骏捷和王逸扬（北京），Jennifer Storey和Michael Rueter（伦敦），Anastasios Tomtsis（布鲁塞尔），Dimitri Slobodenjuk（杜塞尔多夫），Katrin Schallenberg（巴黎），Iwona Terlecka（华沙），Miguel Odriozola和Begoña Barrantes（马德里），Majid Alsheikh（利雅得，来自 AS&H 高伟绅合资律所），Itir Ciftci（伊斯坦布尔，来自高伟绅合作律所 CE Partners），以及Sabra Ferhat（迪拜）等。

经济咨询公司Compass Lexecon担任本项目的经济顾问。

龙佰集团是全球领先的高性能钛白粉生产商，拥有逾35年的钛白粉生产经验，同时掌握硫酸法和氯化法两种工艺，可生产涵盖所有主要应用领域的全系列钛白粉产品。

本次收购的标的资产是Venator Materials PLC旗下泛能拓英国持有的与钛白粉业务相关的资产，包括土地房屋、机器设备、备品备件、业务账簿、知识产权、存货等。

*和平高伟绅联营办公室是经上海市司法局批准由上海市和平律师事务所与高伟绅律师事务所在中国（上海）自由贸易试验区成立的联营办公室。