mARCH 2012 106 Legal Transactions

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 www.lawyer-monthly.com DEAL REPORT

THE DOW CHEMICAL COMPANY IN JOINT VENTURE AGREEMENT WITH AKSA AKRILIK KIMYA SANAYII A.Ş

The Dow Chemical Company (NYSE: Dow), through its wholly-owned subsidiary Dow Europe GmbH, and Aksa Akrilik Kimya Sanayii A.Ş. (ISE: AKSA) has signed a definitive agreement to form a joint venture to manufacture and commercialize carbon fiber and derivatives. Under terms of the agreement, Dow and Aksa will each hold a 50 percent stake

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in the joint venture. Following initial equity investments from the two companies, the JV will finance its growth through cash flow from operations and financial institutions. Total investment in the project, including third party investments, is expected to reach $1 billion U.S. dollars in five years and create up to 1,000 employment opportunities. The JV will expand on Aksa’s existing carbon fiber production assets in Yalova,

strong example of how Dow is advancing its innovation and growth strategy, and demonstrates our unwavering commitment to invest in high-value, innovation-rich sectors through strategic partnerships. Together our companies will apply science, world-class manufacturing capabilities and technical expertise to deliver innovative solutions that address some of the world’s most pressing challenges, such as increasing the energy capture of wind turbines, improving the fuel economy of automobiles, and extending the life of roads and buildings.” LM

Turkey, and will capture growth by creating a large-scale, integrated production capability for the manufacture and supply of advanced carbon fiber technologies. Dow Chairman and CEO Andrew Liveris said, “This partnership with Aksa is another

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CI CAPITAL PARTNERS ACQUIRES THE INTRAPAC GROUP

CI Capital Partners, a North American private investment firm, announced today that it has acquired the operations of The IntraPac Group (“IntraPac"), a specialty plastic packaging company providing a broad array of packaging solutions to the personal care and pharmaceutical markets. IntraPac is a leading manufacturer and marketer of specialty plastic packaging,

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focused on the personal care and pharmaceutical markets, as well as food, beverage, and household and industrial chemicals. IntraPac’s product offering includes personal care and amenity bottles, single and double-walled jars, injection molded caps and closures, laminate tubes, tin tubes, deodorant stick canisters, and other specialty rigid plastic packaging products. “IntraPac’s unique value proposition, offering a complete specialty packaging prod-

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uct suite, is a very attractive platform for growth,” said Steven m. Lefkowitz, President of CI Capital. “IntraPac has a strong track record of growth and profitability, a proven ability to make attractive acquisitions, and long-term relationships with a high quality, diverse customer base. We look forward to working with Tom Linton and the company’s experienced management team to build on IntraPac’s strong position and pursue further growth opportunities in this space,” said mr. Lefkowitz. GE Antares Capital, BmO Capital markets, madison Capital Funding LLC and Audax mezzanine provided financing for the transaction. BmO Capital markets acted as financial advisor to IntraPac. Sidley Austin LLP,

Gowling Lafleur Henderson LLP, and Pacheco Coto provided legal counsel to IntraPac. Paul, Weiss, Rifkind, Wharton & Garrison LLP, Blake, Cassels & Graydon LLP, and LEX Counsel provided legal counsel to CI Capital. LM