Milbank Advises on Debt Financing for The Carlyle Group and GIC’s €10.1B Acquisition of AkzoNobel’s Specialty Chemicals Business

AkzoNobel, a leading global paints and coatings company and major producer of specialty chemicals, announced the sale of 100% of its specialty chemicals business to The Carlyle Group and GIC for an enterprise value of €10.1 billion. Milbank is representing the lead arrangers and underwriters, including Barclays, HSBC, JPMorgan, Citigroup, Credit Suisse, Deutsche Bank, RBC, UBS and others in providing the debt financing to support Carlyle and GIC’s acquisition.

The lead arrangers and underwriters received advice from Milbank attorneys in the New York, London, German and Los Angeles offices and across a number of practice groups globally, including the Global Leveraged Finance, Capital Markets and Corporate Groups. The Milbank team is led by Marcus Dougherty and included New York partners Charles Stern, Benjamin Miles and Lauren Hanrahan and London partners Suhrud Mehta, Mark Stamp, Neil Caddy and Alexandra Grant (née Schofield) and London special counsel Randy Nahle, Miko Bradford, Trevor Truman, and Ana Grbec.