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The sale supports Celanese’s strategic priorities, including deleveraging its balance sheet and focusing on core growth areas.

The Micromax portfolio comprises advanced electronic inks and pastes used in high performance electronics across applications such as navigation and defense, medical monitoring, and advanced circuit board components. The portfolio includes conductive, resistive, and dielectric thick film inks, as well as Low Temperature Co fired Ceramic (LTCC) materials for multilayer circuits.

The transaction is expected to close in the first quarter of 2026, subject to customary closing conditions and required regulatory approvals.

“This transaction underscores our strength in executing complex, cross border divestitures,” said M&A partner, Romain Dambre. “We are pleased to support Celanese on a strategic portfolio action that advances its priorities and positions Micromax for continued success under new ownership.”

The A&O Shearman team that advised Celanese was led by M&A partner, Romain Dambre and associates Iqra Anees, Lucy Chen, and Becca Scher in New York.

Tax advice was provided by partner Ryan Bray in Dallas, and associate Brandon Fawbush in Washington D.C. Antitrust advice was provided by partner Noah Brumfield and associate Nick Putz in Washington D.C. Employment advice was provided by compensation, employment, pensions and governance (CEPG) partners Doreen Lilienfeld and Melisa Brower and associates Alexandra Sentner and Thomas Blecher in New York. Intellectual property advice was provided by partner JB Betker and associate Will Jackson in New York.

The multidisciplinary deal team was also supported by A&O Shearman teams across nine jurisdictions, including U.S., UK, China, France, Germany, Hong Kong, Japan, Netherlands, and Singapore.  

A fully-fledged digital euro should only be launched if the private sector doesn’t come up with its own solution to integrate the region’s fractured payments landscape, according to the lead European Union lawmaker on the file.

Fernando Navarrete proposed to let an online version of the digital money be “conditional on the absence of a pan-European sovereign retail payment solution,” according to a statement accompanying the long-awaited report that will form the basis for further discussions in the European Parliament.