DCF and Deloitte U.K. Complete Manufacturing Transaction
Disposal of Evonik’s North American sodium cyanide operations
Deloitte Corporate Finance LLC (DCF), together with Deloitte LLP, United Kingdom (Deloitte U.K.), advised Evonik Industries AG on the disposal of its North American sodium cyanide operations, which comprised CyPlus Canada Inc., CyPlus Corporation and Cyanco Company, (a U.S. joint venture with a former Nasdaq listed company) to Oaktree Capital Management.
The business is a leading manufacturer and supplier of liquid and solid sodium cyanide and associated supporting technology. Sodium cyanide, along with this technology, is key in the mining and extraction of gold.
The completion in October of this relatively complex, cross-border transaction, which involved effective back-to-back transactions, was the 10th successful transaction on which we have advised Evonik and was particularly satisfying to complete in today’s difficult market environment.
Terms of the transaction were not disclosed.
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