Kirkland & Ellis LLP advised Celanese Corporation (NYSE:CE), a global technology and specialty materials company, on its joint venture with funds managed by Blackstone (NYSE:BX), one of the world's leading investment firms, to create a global acetate tow supplier. Celanese and Blackstone will own 70% and 30% of the joint venture, respectively. The new company is expected to generate 2017 annual pro forma revenue of approximately $1.3 billion with around 2,400 employees. The full release is available here.
The Kirkland team was led by corporate partners David Feirstein and Ravi Agarwal with David Fox, as well as associate James Hu.