Allen & Overy has advised Indorama Ventures Public Company Limited on its acquisition of 85% share capital in UCY Polymers CZ.
"As a result of the investment, IVL will recycle about 1.12 billion additional post-consumer PET (polyethylene terephthalate) plastic bottles in the Czech Republic every year by 2025, increasing the total bottles recycled by UCY across the Czech Republic, Germany, and Central Europe to 1.6 billion bottles per year," Indorama Ventures announced.
Indorama Ventures is a Thailand-headquartered chemical company, operating 125 manufacturing sites in 33 countries.
UCY Polymers CZ is a Czech supplier of PET recyclate materials for food-grade as well as industrial applications.
"Our partnership will strengthen the recycling ecosystem in the Czech Republic," Indorama Ventures ESG Council Chairman Yash Lohia commented. "This growth is made possible because of our customers’ commitment to bottle-to-bottle recycling, which allows us to build the recycling infrastructure Europe needs."
The Allen & Overy team was led by Czech-based Partner Prokop Verner and included Associates Jana Trhlikova and Lucie Cerna, Junior Lawyer Jan Engelmann, and German-based Partner Nicolaus Ascherfeld and Associate Moritz Meister.