Celanese’s Acquisition of Majority of Mobility & Materials Segment from DuPont

Skadden, Arps, Slate, Meagher & Flom represented DuPont in the transaction, while Kirkland & Ellis and Baker McKenzie advised Celanese Corporation.

DuPont has entered into a definitive agreement with Celanese Corporation to divest a majority of the Mobility & Materials segment including the Engineering Polymers business line and select product lines within the Performance Resins and Advanced Solutions business lines for $11.0 billion in cash, subject to customary transaction adjustments in accordance with the definitive agreement.

The transaction is expected to close around the end of 2022, subject to customary closing conditions and regulatory approvals. DuPont is separately advancing the process to divest the Delrin® business which was included in the scope of the strategic review process the Company announced on November 2, 2021.

DuPont (NYSE: DD) is a global innovation leader with technology-based materials and solutions that help transform industries and everyday life.

Celanese {NYSE: CE} is a global chemical and specialty materials company that engineers and manufactures a wide variety of products essential to everyday living.

Goldman Sachs & Co. LLC served as DuPont’s financial advisor.

The Skadden team included M&A partners Brandon Van Dyke (Picture), Michael Chitwood and Richard Oliver (Washington, D.C.), and counsel Kyle Hatton; Tax partners David Rievman and Nathan Giesselman (Palo Alto); Executive Compensation and Benefits partner Regina Olshan; Antitrust/Competition partners Clifford Aronson and Frederic Depoortere (Brussels); Intellectual Property and Technology partner Bruce Goldner; Banking partner Janine Jjingo; Real Estate partner Audrey L. Sokoloff; and Labor and Employment partner David Schwartz. All attorneys are located in New York unless otherwise noted.

The Kirkland team was led by corporate partners David Feirstein, Daniel Wolf, Romain Dambre and associate Alexandra Gallogly and included corporate partner Emily Lichtenheld and associates Frank Liu, Megha Vyas, Yash Nair and Jimmy Ryan, technology & IP transactions partners Daniel Lewis and Todd Herst and associates Amy Barber and Min Ryoo, and tax partners Benjamin Schreiner, Joseph Tootle and Dean Shulman and associate Ted Little. 

The Baker McKenzie team was led by Corporate Partner, Jannan Crozier (London) and Employment Partner, Alexander Wolff (Berlin). The team also included, Employment Partner Julia Wilson (London), Employment Associate Director, Paul Williams (Johannesburg), Corporate Senior Associates, Kate Bromley (London) and Anthony Pisarski (London), Employment Senior Associate, Hannah Swift (London), Corporate Associates Oliver Wilson (London), Andrew Tyau (London) and Employment Associate Harasch Yakubi (Berlin).

Involved fees earner: Kate Bromley – Baker McKenzie; Jannan Crozier – Baker McKenzie; Anthony Pisarski – Baker McKenzie; Hannah Swift – Baker McKenzie; Andrew Tyau – Baker McKenzie; Paul Williams – Baker McKenzie; Julia Wilson – Baker McKenzie; Oliver Wilson – Baker McKenzie; Alexander Wolff – Baker McKenzie; Harasch Yakubi – Baker McKenzie; Amy Barber – Kirkland & Ellis; Romain Dambre – Kirkland & Ellis; David Feirstein – Kirkland & Ellis; Alexandra Gallogly – Kirkland & Ellis; Todd Herst – Kirkland & Ellis; Daniel Lewis – Kirkland & Ellis; Emily Lichtenheld – Kirkland & Ellis; Frank Liu – Kirkland & Ellis; Jimmy Ryan – Kirkland & Ellis; Benjamin Schreiner – Kirkland & Ellis; Dean Shulman – Kirkland & Ellis; Joseph Tootle – Kirkland & Ellis; Megha Vyas – Kirkland & Ellis; Daniel Wolf – Kirkland & Ellis; Clifford Aronson – Skadden; Michael Chitwood – Skadden; Frederic Depoortere – Skadden; Nathan Giesselman – Skadden; Bruce Goldner – Skadden; Kyle Hatton – Skadden; Janine Jjingo – Skadden; Richard Oliver – Skadden; Regina Olshan – Skadden; David Rievman – Skadden; David Schwartz – Skadden; Audrey Sokoloff – Skadden; Brandon Van Dyke – Skadden;

Law Firms: Baker McKenzie; Kirkland & Ellis; Skadden;

Clients: Celanese Corporation; DuPont Corporation;