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French building materials giant Saint Gobain choose Matheson’s international expertise
Matheson is advising Saint-Gobain Building Distribution (ROI) Limited in relation to the sale of its JP Corry business in the Republic of Ireland to HPC Management Services Limited. Three JP Corry sites, in Gort, Oranmore and Cahir, are being transferred to HPC as part of the sale. The transaction will not impact the JP Corry business in Northern Ireland, which Saint-Gobain will retain. Contracts have exchanged and completion of the transaction is conditional on clearance from the Competition and Consumer Protection Commission in Ireland. The CCPC has commenced its review of the transaction and it has 30 working days to decide whether to clear the sale or undertake further review.
The team advising Saint-Gobain was led by Brian McCloskey from the Corporate team with Commercial Real Estate Partner Sally Anne Stone. In addition to Corporate and Real Estate, the cross-departmental team included members of the Competition, Pensions and Employment groups.
The transaction further illustrates our position as the law firm of choice for internationally focused companies doing business in and from Ireland, and our track record of advising on high profile international transactions. Saint Gobain Building Distribution is Europe’s leading distributor of building materials, the world’s leading distributor of ceramic, and the European number one in heating and plumbing since 2007.
Recent international mandates for the firm include advising Willis, the third-largest insurance broker globally, on its merger of equals with financial management services provider Towers Watson. The combined company will be valued at $18 billion approximately. Matheson also advised NYSE listed Aramark Ireland Holdings Limited, the global provider of award-winning services in food and facilities management, on its purchase of one of Ireland’s most successful retailers, Avoca Handweavers Limited. The acquisition of Avoca by Aramark, was cleared by the Competition and Consumer Protection Commission in December 2015.