Khaitan & Co advised LANXESS on Indian law related aspects on the proposed divestment and the subsequent sale by LANXESS of their Urethane Systems business to UBE Corporation for a total consideration of EUR 460 million. The Urethane Systems business comprises 5 manufacturing sites globally as well as application laboratories in the USA, Europe and China.
UBE Corporation will take over all operations from LANXESS with a total of around 400 employees. The Urethane Systems business generated sales of around €250 million last twelve months June 2024. With this transaction, LANXESS exits the last remaining polymer business.
The core team consisted of Rabindra Jhunjhunwala (Partner), Roshnek Darius Dhalla (Counsel), Srijanee Bhattacherjee (Principal Associate), Ahaan Dar (Associate).
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