Saudi Arabian Oil Company completed the acquisition of remaining 50% stake in Arlanxeo Holding B.v. from LANXESS Aktiengesellschaft.
Matthias Horn, Murad Daghles, Gottfried Breuninger, Jürgen Schindler, Jean-Claude Rivalland, Dirk Schade, Olivier Picquerey, Thyl Haßler, Anna Kraling, Conrad Schulte-Wintrop, Sander Schouten, Heleen van der Weijer, Mathilde Lapostolle and Fabio Borggreve of Allen & Overy LLP acted as legal advisors to Saudi Arabian Oil Company. Ralph Kogge, Kai Hasselbach, Shawn der Kinderen, Maximilian Lasson, Theresa Ehlen, Bert Spijkervet, Sezer Gülcü, Helmut Bergmann, Lilly fiddler, David Beutel, René Döring, Christel Cacioppo and Désirée Kemperink of Freshfields acted as legal advisors for LANXESS. HSBC acted as financial advisor to Saudi Arabian Oil Company.
Saudi Arabian Oil Company completed the acquisition of remaining 50% stake in Arlanxeo Holding B.v. from LANXESS Aktiengesellschaft (XTRA:LXS) on December 31, 2018. All relevant antitrust authorities have granted the necessary approvals for the transaction. Upon completion of the transaction, the remaining stake of LANXESS in ARLANXEO was transferred to the former joint venture partner Saudi Aramco. In return, LANXESS received proceeds of approximately 1.4 billion. With the transaction proceeds, LANXESS strengthens its financial base and significantly reduces its net financial liabilities.