Equate Petrochemical Company has finalised the acquisition of MEGlobal.
This transaction transforms the company into a global leader in the petrochemical sector. MEGlobal provides Equate with a major growth opportunity through a new world-scale shale gas project in the US Gulf Coast. In addition, the transaction will bring with it an experienced leadership and operations team, as well as a global network of clients.
MEGlobal is a world leader in the manufacture and marketing of monoethylene glycol and diethylene glycol (EG). Established in July 2004, the company markets over 2.5 million metric tons of EG per year globally. EG is used as a raw material in the manufacture of polyester fibres (clothing and other textiles), polyethylene terephthalate (PET) resins, antifreeze formulations and other industrial products.
MEGlobal was a joint venture between Dow and Dow and Petrochemical Industries Co, a unit of Kuwait Petroleum.
Loyens & Loeff acted as Equate’s Dutch legal counsel on the M&A aspects, as well as the acquisition finance aspects of the transaction.The Loyens team consisted of Peter Corten, Wouter Kros and Femke van de Hoef for the M&A aspects and Vincent Vroom, Sophie Demper and Ehsan Naseri for the acquisition financing.