Mitsui & Co., Ltd. agreed to acquire 70% stake in Nutrinova Netherlands B.V. from Celanese Corporation (NYSE:CE) for $473 million.
June 23, 2023
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Mitsui & Co., Ltd. (TSE:8031) agreed to acquire 70% stake in Nutrinova Netherlands B.V. from Celanese Corporation (NYSE:CE) for $473 million on June 22, 2023. Post this acquisition Nutrinova Netherlands B.V. will become Mitsui?s equity method affiliate and remaining 30% will hold by Celanese. Nutrinova Netherlands B.V generated $171 million revenue and $46 million EBITDA for the year ended 2022. The share purchase will be executed within the fiscal year ending March 2024 after the fulfillment of condition precedents, including obtaining the necessary approvals. As of August 8, 2023, transaction is expected to close in the second half of 2023, pending regulatory approvals.
George Casey and Heiko Schiwek of Shearman & Sterling acted as legal advisor to Celanese Corporation. Lazard Frères K.K. acted as financial advisor to Mitsui & Co., Ltd. Natsuko Sugihara, Düsseldorf, Tobias Nogami Kamerling, Yuki Hoshinaga, Benjamin Sibbett, Matthew Warner, Susan Trepekli, Amsterdam partner Jeroen Thijssen, Sebastiaan van Steenbergen, Florian Reiling, Judith Dany, Daryl Fairbairn, Jennifer Saionz, Michiel Sunderman, Alec Sanderson, Jason Sacks, Gunnar Sachs, Haruka Okihara, Yannick Frost, Marlene Kießling, Annabel Joschko, Ines Keitel, Christopher Fischer, Linda Tahiri, David Walsh, Najib Muslem, Masafumi Shikakura, Yuki Hoshinaga, Dimitri Slobodenjuk, Caroline Scholke, Julius Schradin, Thomas Voland, Maximilian Sablotny, Brigitta Olk, Kieran John McCarthy, Pascal Weber and Esther Giesbrecht of Clifford Chance LLP acted as legal advisor to Mitsui & Co., Ltd.
Mitsui & Co., Ltd. is a diversified group organized around 7 sectors of activity:
- distribution of chemical products (24.3% of net sales);
- distribution of foods, consumer products and pharmaceuticals (23%). The group is also engaged in real estate asset management;
- production and sale of gas and oil products (22.1%);
- production of minerals and non ferrous metals (16.2%);
- manufacturing of industrial engines equipments (7.3%);
- distribution of iron and steel products (5.2%);
- other (1.9%): primarily sale of IT and communication products, financing and logistics services.
MITSUI & CO., LTD. 
