Cleary Gottlieb represented Carbo Ceramics, Inc., a leading Texas-based global oilfield technologies and services provider, in the $22 million sale of its Russian manufacturing subsidiary, which produces ceramic proppants used in hydraulic fracturing, to Petro Welt Technologies AG.
Cleary had represented Carbo Ceramics when it first established its greenfield manufacturing plant in Chelyabinsk in 2007.
The deal was signed on July 21, 2017; following receipt of Russian anti-monopoly approval, it closed on September 21, 2017.