Incitec Pivot Limited (ASX:IPL) entered into an agreement to acquire Titanobel SAS for €91 million from La Financiere Patrimoniale d'Investissement, SAS and management and others on January 10, 2022. The transaction will be funded from IPL's existing cash and debt reserves. The transaction is subject to receiving foreign direct investment regulatory approval from the French Ministry of Economy and Finance and is expected to complete by June 2022. Christopher Theri, Laurence Vincent, Ornella Youkharibache, Alexia Pharès, Emma Röhsler, Félix Guinebretière, Anne Petitjean, Maël Le Cardinal, Agnès Druot, Alexandra Neri, Antoine Sullice, Régis Oréal, Pierre Mathé, Charlotte Cunat, Sergio Sorinas and Agathe Esch (Paris, France); and Rudolph du Plessis, Huneiza Goolam and Monde Coto (Johannesburg) of Herbert Smith Freehills acted as legal advisors to Incitec Pivot. Maxence Bloch, David Diamant of Goodwin Procter acted as legal advisor to LFPI fund and the management of Titanobel. KPMG Corporate Finance France acted as a financial advisor to La Financiere Patrimoniale d'Investissement, SAS.

Incitec Pivot Limited (ASX:IPL) acquired Titanobel SAS from La Financiere Patrimoniale d'Investissement, SAS and management and others on April 28, 2022. Titanobel's team will join Dyno Nobel network and will continue to provide a market leading suite of products and services to existing customers in new EMEA.