Global law firm Eversheds has advised DuPont on the European aspects of its proposed global disposal of DuPont Performance Coatings (DPC) to The Carlyle Group for $4.9 billion.
The transaction is expected to close in the first quarter of 2013, subject to customary conditions and regulatory approvals.
DPC is a global supplier of vehicle and industrial coating systems with 2012 expected sales of more than $4 billion. It has more than 11,000 employees.
Founded in 1922 and headquartered in Wilmington, Delaware, DPC is the leading global manufacturer, marketer and distributor of advanced coating systems primarily for the transportation industry. The business operates manufacturing sites on six continents, serving customers in 120 countries directly and through 4,000 distributors. EMEA is the largest region (in terms of both sales and employees) in the overall DPC business.
The Eversheds team was led by Partner Martin Issitt, assisted by Associate Amelia Guilfoyle and teams across 18 European jurisdictions. Martin commented:
“We hugely value our relationship with DuPont and this high profile project has been underpinned by a close working relationship with the in-house team, together with the resource and experience of our colleagues across much of Europe.”
Patrick Schriber, European General Counsel for DuPont added:
“Eversheds multi jurisdictional legal team was intrinsic in allowing the smooth progression of the transaction to date. We have worked with Eversheds for many years and look forward to continuing our partnership with the firm.”
