A&O Shearman Advised Celanese on USD500 Million Divestiture of Micromax to Element Solutions Inc

A&O Shearman Advised Celanese on USD500 Million Divestiture of Micromax to Element Solutions Inc

A&O Shearman is advised Celanese Corporation, a global specialty materials and chemical company, on the divestment of its Micromax business to Element Solutions Inc for approximately USD500m, subject to customary adjustments.

The sale supports Celanese’s strategic priorities, including deleveraging its balance sheet and focusing on core growth areas.

The Micromax portfolio comprises advanced electronic inks and pastes used in high performance electronics across applications such as navigation and defense, medical monitoring, and advanced circuit board components. The portfolio includes conductive, resistive, and dielectric thick film inks, as well as Low Temperature Co fired Ceramic (LTCC) materials for multilayer circuits.

The transaction is expected to close in the first quarter of 2026, subject to customary closing conditions and required regulatory approvals.

“This transaction underscores our strength in executing complex, cross border divestitures”

“This transaction underscores our strength in executing complex, cross border divestitures,” said M&A partner, Romain Dambre. “We are pleased to support Celanese on a strategic portfolio action that advances its priorities and positions Micromax for continued success under new ownership.”

The multidisciplinary deal team was also supported by A&O Shearman teams across nine jurisdictions, including the U.S., UK, China, France, Germany, Hong Kong, Japan, the Netherlands, and Singapore.

The A&O Shearman team that advised Celanese was led by Romain Dambre (M&A Partner) and Iqra Anees (Associate), Lucy Chen (Associate) and Becca Scher (Associate) in New York.

Tax advised was provided by Ryan Bray (Partner), Brandon Fawbush (Associate) in Washington D.C. Antitrust advised was provided by Noah Brumfield (Partner) and Nick Putz (Associate) in Washington D.C. Employment advised was provided by compensation, employment, pensions and governance (CEPG) Doreen Lilienfeld (Partner) and Melisa Brower (Partner) and Alexandra Sentner (Associate) and Thomas Blecher (Associate) in New York. Intellectual property advised was provided by JB Betker (Partner) and Will Jackson (Associate) in New York.

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