M&A: Arizona Chemicals deal description

International Paper has agreed to sell its Arizona Chemical business to Rhone Capital III L.P. for approximately $485 million. Arizona Chemical has been a global leader in pine chemistry for more than 75 years. Arizona Chemical has 11 manufacturing facilities worldwide, located in Panama City, Pensacola and Port St. Joe, Fla.; Savannah and Valdosta, Ga.; Dover, Ohio; Bedlington and Chester-le-Street, England; Niort, France; Oulu, Finland; and Sandarne, Sweden. Arizona Chemical also has research and development capabilities and a network of sales offices throughout the world.

As the Finnish counsel to the purchaser, B&K assisted Rhone Capital and its lead counsel, Sullivan & Cromwell LLP, in the legal due diligence concerning the Finnish target companies and in questions related to the acquisition structure and acquisition of the Finnish target companies, and assisted the Finnish acquisition vehicle in connection with the negotiation and execution of the agreements related to the acquisition, including financing related agreements.

The total deal value was USD 485 million including the Finnish assets.