After a period of assessing the Romanian market, PPG Industries (an American company ranked in Fortune 500, headquartered in Pittsburgh, Pennsylvania and with businesses in more than 70 countries) has concluded the agreement for the acquisition of 100% of Deutek shares, a leading producer of lacquers and paints, part of Axxess Capital portfolio. The value of the transaction makes it one of the biggest transactions performed on the Romanian market by an American investor.
The sale process was a competitive one and lasted for almost a year. PPG was assisted both in the legal due diligence phase and during the negotiation process by Radu și Asociații SPRL | EY Law (acting through Radu Diaconu and Cristina Rusu). Currently, the parties are waiting for the approval of the Competition Council for the purpose of finalizing the transaction. PPG was the beneficiary of an integrated package of consultancy services, the tax and financial services being offered by the specialized teams of EY Romania (through Alexander Milcev and Liliana Bușoiu).