7 February – LAWFUEL – The Law News Network – Herbert Smith has advised long-standing client Johnson Matthey plc on the acquisition of the entire share capital of Davy Process Technology Limited (DPT) from Yukos International UK BV for £40 million.
DPT and Johnson Matthey have a history of technical collaboration and the combination of Johnson Matthey’s expertise in the process catalyst business together with DPT’s ability to develop and licence catalyst-based processes will open up new opportunities for both organisations to exploit their research and development capabilities. The acquisition will strengthen Johnson Matthey’s position as a leading catalyst and technology supplier.
Lead partner Stephen Wilkinson commented:
“We are pleased to have worked once again with JM to complete the acquisition of DPT. This one had particular challenges as Yukos is obviously subject to various proceedings around the world and we worked, in particular with Stibbe, to ensure that JM could find a sensible way through the maze of litigation to complete the deal.”
The team was led by Stephen Wilkinson (corporate) who was assisted by Camilla Sacrini, Nancy Roberts and Sangna Shah (corporate), Janette Sawden (tax), Ian Berry (pensions), Ian Caplan, Joanna Cooper and Martin Dawbney (Real Estate), Paul Hawkins (IP), Sophie Johnson (IT), Rachel Lord (employment), Morag Bond (competition), Maria Cull and Jonathan Harwood (Environment) and Martin Bakes (Insurance).
Stibbe advised on the Dutch aspects of the acquisition.