Husch Blackwell served as lead outside counsel to Novelis Inc. in connection with its $350 million acquisition of a 31 percent minority interest in its Korean subsidiary, Novelis Korea Ltd. The deal closed December 28, 2011, and was the culmination of two years’ work with the world-leading company of aluminum rolling and recycling.
Husch Blackwell was initially hired to serve as project manager for Novelis Korea’s proposed initial public offering (IPO) on the Korea Exchange, following the exercise by the minority owners of a contractual right to force the IPO. However, the IPO faced setbacks relating to Novelis Korea’s integration with the broader, global Novelis business, leading Novelis Inc. to pursue an acquisition instead. The complex purchase transaction involved three principal sellers and 11 smaller sellers, and following its completion Novelis Inc. now owns more than 99 percent of Novelis Korea’s outstanding shares.
Husch Blackwell Partner Brogan Sullivan led the firm’s work on the deal, and in that role he spent many weeks on site in Seoul, gaining unique insight into Korean corporate and securities laws and developing relationships with Korean legal and investment banking professionals. Associate Leah Pollema helped close the transaction. The deal exemplifies Husch Blackwell’s ability to provide valuable service to U.S. clients undertaking complex international transactions.
Husch Blackwell’s Corporate attorneys respond to the operating and regulatory needs of clients in today’s demanding business climate. The team represents global companies that compete in changing domestic and international business environments and counsels clients in all aspects of business planning and problem solving. In the area of Mergers & Acquisitions, Husch Blackwell advises clients in structuring, negotiating and completing domestic and international acquisitions and divestitures. The firm represents bidders, targets, public and private operating companies, boards of directors, committees of independent directors, private equity firms and management buy-out groups in transactions ranging in size from several million dollars to several billion dollars.
