July 18, 2007 – LAWFUEL – The Law Firm Newswire – Davis Polk & Wardwell is advising Compagnie de Saint-Gobain on its acquisition of Owens Corning’s Siding Solutions business. Based in Ohio, Owens Corning is a world leader in building materials systems and composite solutions. Based in France, Saint-Gobain is a leading producer of flat glass, glass packaging, insulation, building materials, fiber glass reinforcements, abrasives, high-performance plastics, industrial ceramics and pipe.
Under the terms of the transaction, Saint-Gobain will acquire Owens Corning’s Siding Solutions business, including the Norandex/Reynolds distribution business, for $371 million in cash. The transaction is expected to close by the end of the third quarter of 2007.
The Davis Polk corporate team includes partner Carole Schiffman, associates Scott D. Mitnick, Natacha Marty and Tyler W. Thorn and summer associate Carlo M. Caponi. The tax team includes partner Kathleen L. Ferrell and associate Arie Rubenstein (not yet admitted). Partner Gail A. Flesher and associate Brianne M. Lucyk are providing environmental advice. Partner Barbara Nims and associate Natasha Sankovitch are providing employment advice. Partner Lowell Gordon Harriss is providing bankruptcy and litigation advice. Counsel James P. McIntyre and associate Karla Booth are providing real estate advice. Associates Frank J. Azzopardi, Matthew J. Bacal and Marie-Christine Eldridge are providing intellectual property advice. All members of the Davis Polk team work in the New York office.