Client Work Detail

On July 28, 2008 Freeworld Coatings Global (Pty) Ltd. (JSE:FWD) ("Freeworld") purchased the worldwide rights to environmentally-friendly biodegradable coating removal products from Napier Environmental Technologies Inc. ("Napier"). The Napier products include innovative de-coating and wood restoration products including paint strippers, cleaners, wood restoration, varnishes and etchers. The products are environmentally friendly using advanced technologies and thus in accordance with Freeworld's ethos to arrive at a "greenhouse neutral" environmental policy. The acquisition price includes an option for one year to acquire the North American sales, excluding those to one large mass market retailer, marketing and manufacturing operations of Napier at the net book value. Should Freeworld not take up the option, Napier will refund Freeworld the option price.

Ogilvy Renault LLP represented Freeworld with a team comprised of Troy Ungerman, Jeremy Grushcow and Heidi Reinhart (Corporate/M&A), Suzana Lobo (Banking), Jennifer Stam (Insolvency) and Anna Wilkinson.