Davis Polk & Wardwell has advised Japanese paint manufacturer Nippon Paint on its $2.3 billion acquisition of U.S. chemicals formulator AOC from Lone Star Funds, which was represented by Gibson, Dunn & Crutcher.
In a statement, Nippon Paint said that the acquisition would help it expand into the U.S. and European markets, strengthening its position in the coatings, colourants, and composite resins sectors.
Bloomberg reported that AOC is a leading supplier of speciality formulations and solutions, enabling customers to create robust and versatile products for various applications.
The Davis Polk team was led by corporate partner Ken Lebrun, and supported by associates Paul Lee and Maarten van der Plas. Additional assistance was provided by tax partner Corey M. Goodman, executive compensation partner Kyoko Takahashi Lin, antitrust and foreign investment partner Howard Shelanski and counsel Matthew Yeowart, environmental counsel Michael Comstock, intellectual property partner David R. Bauer, and CFIUS partner Paul D. Marquardt.
The Gibson Dunn team was co-led by corporate partners Jonathan Whalen and Jeffrey Chapman, alongside partner Qi Yue and of counsel Karthik Ashwin Thiagarajan. Further support was provided by tax partner Michael Cannon, benefits partner Krista Hanvey, environmental partner Rachel Levick, IP partner Daniel Angel, antitrust partners Attila Borsos and Sophia (Vandergrift) Hansell, and international trade of counsel Michelle Weinbaum.
