Esseco Industrial signs agreement to acquire INOVYN Produzione Italia from INEOS

Esseco Industrial S.p.A., the industrial division of the Esseco Group, has signed a framework agreement with Kerling NewCo 1 Limited, a company belonging to the INEOS Group, for the acquisition of INOVYN Produzione Italia S.p.A. The operation represents a significant step in the Esseco Group’s industrial consolidation and will allow the group, among other things, to increase its electrolytic capacity.

INOVYN Produzione Italia S.p.A. is active in the production of basic chemicals and intermediates for industrial use, with a particular focus on sodium hypochlorite, caustic soda, hydrochloric acid, and other chlorine derivatives. The research and development activity of INEOS Inovyn based in Rosignano will remain the property of INEOS Inovyn and will be spun off, subject to any consultation procedures provided for by current regulations.

The Esseco Group employs approximately 1,400 people globally and is an international leader in inorganic chemistry and oenology. Esseco Industrial S.p.A. operates in the basic chemicals market across eight production sites in Europe and South America.

Studio Legale Grompe Redaelli e Associati (GRA) acted with a multidisciplinary team led by lawyers Luigi Sergio Redaelli, Davide Cinelli, Nicoletta Manfredi, Rodolfo De Martinis, Alice Moroni, Laura Cucchiara, and Daniele Cusini, alongside trainee Ludovica La Regina, for M&A and Golden Power profiles and legal due diligence.

Gianni & Origoni (GOP) acted with a team comprising partners Fabio Ilacqua and Alberto Recchia for M&A profiles, and partners Francesco Maria Salerno and Piero Fattori, supported by associates Alessandra Boiano and Vanessa Guzzi, for antitrust matters. EY acted with a team including Marco Cristoforoni, Connie Trisolini, Silvia Lambertini, Aldo Alberto Amorese, Iacopo Rummo, Francesco Gaudioso, and Gabriele Latini for the tax and accounting profiles and environmental due diligence.

The INEOS Group was assisted by Slaughter and May and BonelliErede. The Slaughter and May team was led by M&A partners Hywel Davies and Harry Hecht, supported by associates Heather Crosby and Faye Heron. The antitrust and regulatory team was directed by partner Alexander Chadd and senior associate Iain McCann. BonelliErede acted with a team coordinated by partner Gianfranco Veneziano, including senior associate Niccolò Ghizzani and associate Alessandro Colasanti for M&A and corporate law. Maurizio Pappalardo, of counsel, handled antitrust profiles, while senior counsel Federico Passamonti managed real estate and associate Andrea Gemmi oversaw Golden Power profiles.

The closing of the transaction will be subject to the customary conditions precedent based on the agreements reached between the parties.