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Closing: Sika’s Acquisition of MBCC Group from Lone Star Funds Now Closed

Closing: Sika’s Acquisition of MBCC Group from Lone Star Funds Now Closed

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Baker McKenzie and Musat & Asociatii have announced that Sika’s EUR 5.3 billion acquisition of Master Builder Construction Chemicals from Lone Star Funds (reported by CEE Legal Matters on February 23, 2022) had closed.

According to Baker McKenzie, “the transaction represents the largest acquisition in Sika’s 113-year history and was closed on May 2, 2023.” The transaction included “a series of merger control proceedings with 18 merger control authorities. In the US, Canada, the European Union, the UK, Australia, and New Zealand the authorities required the divestment of the admixtures business of MBCC.”

Lone Star Funds is a US-based private equity firm focusing on distressed assets.

Sika AG is a Swiss construction chemicals group. According to Musat & Asociatii, “with subsidiaries in 100 countries and 25,000 employees, Sika is a leading specialty chemicals company in the development and production of systems and products for bonding, sealing, damping, reinforcing, and protecting in the building sector and motor vehicle industry. The former BASF Construction Chemicals division, the MBCC Group is a global supplier of construction chemicals, operating more than 150 plants in over 60 countries." BASF had sold MBCC to financial investor Lone Star in 2019.

As previously reported, Musat & Asociatii and Baker McKenzie had advised Sika on its EUR 5.2 billion acquisition of the MBCC Group from Lone Star Funds.

The Musat & Asociatii updated team included Partner Monia Dobrescu, Managing Associates Madalina Trifan, Dragos Lungu, Simona Anton, Ana Maria Abrudan, and Oana Lupu, Senior Associates Cristian Cepesi and Sirin Omer, and Associate Evelina Stoian.

Baker McKenzie’s team included lawyers in New York, Washington D.C., Toronto, London, Belfast, Brussels, Berlin, Munich, Duesseldorf, Frankfurt, and Sydney.

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