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Equity Interests of Engineering and Construction Services Business

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Equity Interests of Engineering and Construction Services Business



Price: $1,050,000.00


Other Item Info
Item #: debke_170787
Created: 02/26/2018
Category: Business Property > Investments > Stocks
Sale Date: Wed. Mar 14, 2018
Seller Info
James E. O'Neill
Debtor's Attorney
919 North Market Street, 17th Floor P.O. Box 8705
Wilmington, DE 19899
302-652-4100
Bankruptcy Info
Case #: 1:17-bk-12307
Case Title: M & G USA Corporation
Court: Delaware Bankruptcy Court
Chapter: 11
View Case Docket

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Description

Sale of (100%) of Sellers' respective equity interests in the following non-debtor subsidiaries (collectively, the "Shares"): (a) Chemtex Consulting of India (Pvt.) Ltd., an Indian company ("Chemtex India"), (b) Chemtex Engineering Co., Ltd., a Chinese company ("Chemtex Engineering"); (c) Chemtex International Trading Co., Ltd., a Chinese company ("Chemtex Trading"); (d) Chemtex (Shanghai) Chemical Engineering Co., Ltd., a Chinese company ("Chemtex Shanghai" and, together with Chemtex India, Chemtex Engineering and Chemtax Trading, the "Chemtex Entities"), together with certain assets necessary for conducting the business of the Chemtex Entities and assets related to the tradename "CHEMTEX". The sale assets also include the Transition Data and the Invista IP Licenses together with the Transition Data and any other assets listed on Schedule 2.1(b) on the attached PDF.

The Cherntex Entities are comprised of four entities that are domiciled and do business solely in China and India. The Chemtex Entities are in the businesses of providing engineering, procurement and construction services to third parties seeking to design and build PET and liquefied natural gas plants, primarily, but not exclusively, in China.


Additional Details

  1. Sale Hearing Time: 10:00 a.m.
  2. Purchase Price: The aggregate consideration for the Shares, the Purchased Assets and the Brand Name will be: (a) $1,050,000 in cash, which represents consideration for (i) the Chemtex India Shares of $700,000, (ii) consideration for the China Shares of $300,000 and (iii) consideration for the Transition Data of $50,000; and (b) the assumption of the Vendor Liabilities.
  3. Last date to respond: March 7, 2018


Other Information

Terms and Conditions:

See Attached.


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