White & Case has advised Russia-based petrochemicals company Sibur Holding on its sale of 40% of its stake in Amur Gas Chemical Complex to China’s energy and chemicals company Sinopec. Dechert advised the buyer on the deal.
Dechert reported that, through the transaction, Sinopec and Sibur established a joint venture aimed at establishing the Amur Petrochemical Project and that Sinopec will be the exclusive distributor of its products in China.
According to Sibur, “the Amur GCC project is expected to help attract international investments in the Russian economy, while also making a considerable contribution to the national program of growing the nation's non-commodity exports.” In addition, the company reported, “given the facility's geography, its products will be targeting Asian markets, primarily China, which is the largest consumer of polymers globally.
The White & Case team consisted of, in Moscow, Partners Nikolay Feoktistov, Jonathan Langley, and Irina Dmitrieva, Counsels Adam Smith and Pavel Boulatov, and Associates Evgeny Chernyavsky, Ksenia Tyunik, Jiutuo Sun, Alexander Karmalita, Roman Kudryavtsev, and Tigran Saakyan; in China, Partners David Li, Melody Chan, and Vivian Tsoi, and Senior Legal Consultant Frank Shu; in Brussels, Partner Katarzyna Czapracka; in Washington, D.C., Counsel Peter Chessick; and in Geneva, Counsel Sara Nordin.
Dechert’s team included, in Hong Kong, Partner Xiao Yong and Counsel Nicholas Molan; in Beijing, Counsel Zhaohui Li and Associate Adam Schmelzer; in Moscow, Partner Laura Brank, National Partner Evgenia Korotkova, and Associates Kirill Skopchevskiy and Pavel Dunaev; in Washington D.C., Partners Jeremy Zucker and Darshak Dholakia; and in Brussels, Partner Alec Burnside and Associates Adam Kidane and Delphine Strohl.