Affiliate of Flacks Group completed the acquisition of Imerys,assets serving the paper market. from Imerys S.A. (ENXTPA:NK) for ?150 million.
July 07, 2024
Share
Affiliate of Flacks Group entered into exclusive negotiations to acquire Imerys,assets serving the paper market. from Imerys S.A. (ENXTPA:NK) on March 28, 2024. These activities are operated by approximately 900 employees in 24 plants in the Americas and Asia, as well as certain locations in Europe. These activities represented about ?370m in sales in 2023. The completion of the contemplated transaction is subject to the fulfillment of customary conditions for this type of transactions, including regulatory approvals and relevant work council consultations. The transaction is expected to be completed in the course of 2024.
Affiliate of Flacks Group completed the acquisition of Imerys,assets serving the paper market. from Imerys S.A. (ENXTPA:NK) for ?150 million on July 8, 2024. The payment of the purchase price is staged over time and based on the future performance of the business. The translation reserve associated with the business disposed of (mainly relating to the devaluation of the Brazilian Real) is recycled to the income statement in accordance with applicable IFRS standards. The Group?s shareholders' equity will not be affected by this non-cash loss of about ?300 million that will be accounted for in the financial statements of the third quarter ending September 30, 2024. Thomas Forschbach and Alexander Benedetti, Jean-Luc Juhan and Xavier Renard from Latham & Watkins LLP (Paris) act as legal advisor and Marcos Chaves Ladeira, Alexandre O. Jorge from Pinheiro Neto Advogados, Moncey Avocats and Berger Singerman act as legal advisor for Imerys S.A. (ENXTPA:NK). Morgan Stanley served as an investment banker on the deal.
As a world leader in mineral specialties for the industry, Imerys offers high-added-value business solutions for a wide range of sectors, from process industries to consumer goods or construction products. The group actively mobilizes its knowledge of applications, technological expertise and materials science know how to provide high-end solutions that value its mineral resources, develop formulations or produce synthetic minerals. All these actions bring about essential properties to its customers' products and their performance such as refractoriness, toughness, conductivity, opacity, durability, purity, lightness, filtration, absorption, or hydrophobicity. Imerys is strongly committed to responsible developmentin particular, to contribute to the development of environmentally friendly products and processes. The activity is organized around 2 areas:
- Performance Minerals: the segment brings together three geographical business areas - Europe, Middle East and Africa (EMEA), America and Asia/Pacific (APAC). This segment encompasses functional additives that give unique properties to the products they compose. It serves the plastics, rubber, paint and coatings, filtration, ceramic materials, renewable energy, paper and cardboard, food, health and cosmetic industries;
- Materials and High Temperature Solutions: the segment, managed globally, brings together two business areas - High Temperature Solutions and Refractories, Abrasives & Construction. This segment facilitates production processes involving high temperatures. It serves the refractory, foundry, metals, abrasives and building chemicals markets.
IMERYS 
