LAWFUEL – Law, legal, attorney newsChadbourne & Parke LLP rep…

LAWFUEL – Law, legal, attorney newsChadbourne & Parke LLP represented BorsodChem Rt., a leading European producer of both specialty and commodity chemicals, and one of the largest listed companies in Hungary on the Budapest Stock Exchange, in admitting its ordinary shares to public trading in Poland and listing them on the Warsaw Stock Exchange on October 8, 2004. The resulting listing of a company on both the Budapest Stock Exchange and the Warsaw Stock Exchange is the first such transaction in the history of either exchange.

The dual listing was achieved through the first use of new provisions of Polish securities laws enacted as part of Poland’s harmonization of its laws with those of the European Union due to Poland’s accession to the European Union. This groundbreaking transaction is expected to be a paradigm for future such listings.

BorsodChem is the largest producer of poly vinyl chloride the only producer of MDI, and a leading producer of TDI in the Central and Eastern Europe region. The shares of BorsodChem are held primarily by leading financial institutions and pension funds, none of which other than one core shareholder holds in excess of 5% of BorsodChem shares.

The core shareholder in BorsodChem is VCP Industrie Beteiligungen AG (“VCPI”), a wholly owned subsidiary of VCP Capital Partners Unternehmensberatungs AG (“VCP”), an Austrian investment house engaged, either directly or indirectly through subsidiaries, in private equity, asset management and corporate finance. Its focus is on European cross-border transactions that particularly include the region of Central Europe, the EU enlargement zone and German speaking countries. VCPI holds approximately 23% of the shares of BorsodChem.

Chadbourne attorneys handling the transaction were Warsaw office partners David Dixon, Kazimierz Jelenski and Gabriel Wujek.

Chadbourne & Parke LLP, an international law firm headquartered in New York City, provides a full range of legal services, including mergers and acquisitions, securities, project finance, corporate finance, energy, telecommunications, commercial and products liability litigation, securities litigation and regulatory enforcement, white collar defense, intellectual property, antitrust, domestic and international tax, reinsurance and insurance, environmental, real estate, bankruptcy and financial restructuring, employment law and ERISA, trusts and estates and government contract matters. The Firm has offices in New York, Washington, D.C., Los Angeles, Houston, Moscow, Kyiv, Warsaw (through a Polish partnership), Beijing and a multinational partnership, Chadbourne & Parke, in London. For additional information, visit www.chadbourne.com.

This announcement does not contain or constitute an offer or invitation to purchase or subscribe for any securities of BorsodChem and should not be relied upon in connection with any decision to purchase or subscribe for any such securities.

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