NEW YORK, December 14, 2016: Morgan Lewis represented Leucadia National Corporation in the sale of its subsidiary, Conwed Plastics, to Schweitzer-Mauduit International, Inc.
Under the terms of the transaction, which is expected to close in January 2017, Leucadia will receive $295 million in cash at closing plus potential earn-out payments over five years of up to $40 million in cash to the extent the results of Conwed’s subsidiary, Filtrexx International, exceed certain performance thresholds.
The Morgan Lewis team advising on the transaction was led by partners Sheryl Orr and Alec Dawson and associates Sarah Wong and Annie Heiss.