RÖHm Gmbh agreed to acquire Functional Forms business of SABIC from Saudi Basic Industries Corporation (SASE:2010) on December 7, 2022. RÖHm Gmbh signed the sale and purchase agreement to acquire Functional Forms business of SABIC from Saudi Basic Industries Corporation on June 20, 2023. The transaction is subject to regulatory approvals. As on December 10, 2022, the transaction is subject to customary consultation with the respective works councils and approval of the antitrust authorities. Consultation with applicable works councils and unions in Europe is expected to be finalized in the upcoming months. The transaction is expected to close in the first half of 2024. As of
November 21, 2023, transaction is expected to close in Q2 2024. Barclays acted as financial advisor to SABIC. Stephanie Hundertmark, Maximilian Lasson, Theresa Ehlen, Gerrit Beckhaus, Klaus-Stefan Hohenstatt, Norbert Schneider, Ulrich Sittard, Brechje Nollen, Winfred Knibbeler, Bob von Kasteren, Paul Humphreys, Allison Liff, Lori Goodman, Renato Paternollo, Judit Gajdics, Marius Scherb, Sascha Arnold, Ya Ma and Lukas Pomaroli of Freshfields Bruckhaus Deringer acted as legal advisors to RÖHm.