On 1 July 2022, Arkema finalised the acquisition of Permoseal in South Africa, with Watson Attorneys successfully completing simultaneous conveyancing registrations across a seven-site, multi-provincial property portfolio.
On 1 July 2022, Arkema finalised the acquisition of Permoseal in South Africa, a leader in adhesive solutions for DIY, packaging and construction. The transaction involved a multi-site property portfolio spanning seven underlying property transactions across the Western Cape, Gauteng, and KwaZulu-Natal. Renmere was engaged as independent advisor to structure the transaction, while Watson Attorneys managed all conveyancing aspects — including title due diligence, identification of encumbrances and servitudes, and coordination across the relevant Deeds Offices to align registration timelines with the commercial completion date.
The conveyancing workstream required simultaneous registration of transfers across all seven sites to ensure that property rights vested in Arkema (or its relevant subsidiary, Bostik South Africa) concurrently with the commercial handover of the business. The project was subject to approval by antitrust authorities, meaning no transfers could be effected until all regulatory conditions precedent were satisfied. Permoseal operates two production plants in the country, with the remaining sites comprising distribution and branch premises across the three provinces. All seven property transactions completed successfully on 1 July 2022, with Bostik South Africa registered as the holder of the relevant property rights across the full portfolio [in accordance with the Deeds Registries Act 47 of 1937].