Cleary Gottlieb represented German corporation Henkel AG & Co. KGaA and its U.S. subsidiary, Henkel Corporation, in Henkel’s divestiture of its stake in Ecolab Inc. The divestiture consisted of two transactions: a $1.87 billion underwritten public secondary offering of 61,346,454 shares of Ecolab common stock, at $30.50 per share, and a $300 million share repurchase by Ecolab of 11,246,098 shares of its common stock from Henkel.
The underwritten public offering closed on November 18, and the share repurchase closed on November 19.
