Dentons has advised Draslovka on the acquisition of the sodium cyanide business from South African petrochemicals company Sasol. Bowmans advised Sasol on the deal.
The value of the deal is over USD 95 million and the transaction is expected to close in the first half of 2022, pending regulatory approval.
Draslovka is a Czech-based privately owned holding company, dealing in specialty chemicals and proprietary manufacturing technologies. According to Dentons, Draslovka has been present in South Africa for nearly a decade through its Draslovka Services South Africa Draslovka Services South Africa, formerly known as Agri-Soil.
According to Dentons, “the acquisition from Sasol represents a major investment on the African continent and is part of Draslovka’s international expansion plan. Draslovka also plans to invest additional USD 50 million into modernizing the factory, to enable it to manufacture products that currently have to be imported into South Africa. The funds will also be used to ensure the factory meets the highest international environmental standards.”
Dentons’ team included Prague-based Partners Petr Zakoucky and Jiri Tomola, Senior Associates Ivo Hartmann, Lucie Kubinyiova, and Adam Prerovsky, Associates Michal Pelikan, Barbora Obracajova, Junior Associates Justina Bodlakova, Jan Tyls, and Anna Urbanova, and Honorary Member Petr Kotab, with a further team in Johannesburg.
Bowmans' team included Partners Charles Douglas, Samantha Saffy, Claire Tucker, and Maryanne Angumuthoo.