Advised global leading petrochemicals producer in merger control matter
Ellex in Lithuania advised Indorama Ventures Public Company Limited (IVL), a global leading petrochemicals producer, in obtaining merger clearance for the acquisition of a Polish plastics recycler Industrie Maurizio Peruzzo Polowat. Ellex EU and Competition practice worked on obtaining the clearance from the Lithuanian Competition Council.
The acquisition consisted of two assets, strategically located close to the major population centers of Kraków and Warsaw. The production sites have a combined capacity of 23,000 tonnes of recycled Polyethylene Terephthalate (rPET) flakes and 4,000 tonnes of rPET pellets. The company is supported by 118 employees.
This acquisition is consistent with IVL’s ambitious target in scaling its recycling capacity to reach 750,000 tonnes by 2025. It also adds an attractive recycling platform for IVL in Eastern Europe and will open new opportunities to meet the increasing rPET demand for more sustainable packaging solutions.
Indorama Ventures Public Company Limited, listed in Thailand (Bloomberg ticker IVL.TB), is one of the world’s leading petrochemicals producers, with a global manufacturing footprint across Africa, Asia Pacific, Europe and Americas.
Poland is a strategic market for IVL and has made significant progress on waste management and recycling.
The client was advised by partner Marius Juonys and associate Jonas Šalna.