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Cogénie Finance has sold to Total the companies of the group Synova, French leader in the recycling of plastic for the automobile industry.
Cogéni Finance, holding company of Frédéric Jamin, founder of Synova, was advised by Altana on the entirety of the transaction, with a team composed of Gilles Gaillard, Partner, and Julie Rolet, Counsel, in collaboration with Pascal Lesné, independent lawyer, the accounting firm Roullois and Blaise-Philippe Chaumont of Aristide Law on tax aspects.
From recycled plastics, Synova produces 20,000 tons per year of polypropylene that meets the high quality standards of automobile and automobile parts manufacturers. The plastics notably improve vehicles’ energy performance by making them lighter, and thus reducing their CO2 emissions.
Altana confirms through this transaction its expertise in the plastic recycling market, whose development has major economic, social and environmental stakes.
The financial aspects of the transaction remain confidential.
Total was advised by Gide, with a team composed of Christophe Eck, Partner, and Alexandre Heydel.
