NEW YORK – Feb. 19, 2025 – Global law firm Greenberg Traurig, LLP is representing Praana Group, an India-based holding group that operates a diverse portfolio of companies primarily serving the industrial sector, in connection with its definitive agreement to acquire Owens Corning’s (NYSE: OC) glass reinforcements business at an enterprise value of $755 million.
The proposed acquisition is expected to enhance Praana Group’s existing advanced materials and composites business and complete Owens Corning’s review of strategic alternatives for the business announced in early 2024, according to the Owens Corning’s press release. The transaction is expected to close in 2025 and is subject to customary regulatory approvals and other conditions.
Owens Corning is a residential and commercial building products leader committed to building a sustainable future through material innovation. The company’s glass reinforcements business manufactures, fabricates, and sells glass fiber reinforcements for a wide variety of applications in wind energy, infrastructure, industrial, transportation, and consumer markets.
Established in 1956, Praana Group operates a global portfolio of manufacturing facilities in the fields of specialty chemicals (Sterling Specialty Chemicals, Galata Chemicals, Artek Surfin Chemicals) and glass fiber and composite materials (3B Fibreglass). Its innovative solutions and high-quality products cater to a wide range of industries like construction, textiles, automotive, home & personal care, energy, and industrial markets.
The Greenberg Traurig team representing Praana Group is led by New York Corporate Shareholders Kal Das, Ejim P. Achi, and Adam S. Namoury.
They are leading a team of more than 40 attorneys across 14 offices. Other shareholders include Luke Lado in the Banking & Financial Services Practice in London, Richard C. Kim in the Corporate Practice in New York, Cyril T. Brennan in the International Trade Practice in Washington, D.C., Stephen M. Pepper in the Corporate Practice in New York, Justin Hedge in the Corporate Practice in Washington D.C., Robert Gago in the Corporate Practice in Warsaw, James Maynor in the Tax Practice in Northern Virginia, David M. Greenberg in the Intellectual Property & Technology Practice in New York, August Huelle in the Tax Practice in New York, Keshia M. Tiemann in the Labor & Employment Practice in Atlanta, David Edington in the Real Estate Practice in Las Vegas, Giuliano Apadula in the Environmental Practice in Philadelphia, Dawn (Dan) Zhang in the Corporate Practice in Shanghai, Roberto Guerrero Comella in the Real Estate Practice in Mexico City, Leslie Palma in the Labor & Employment Practice in Mexico City, Koji Ishikawa in the Corporate Practice in Tokyo, Graham Iversen in the Tax Practice in London, Pietro Caliceti in the Corporate Practice in Milan, and Mi Young (Audrey) Lee in the Corporate Practice in Seoul.
The team also includes Of Counsels Rebecca Tracy Rotem in the Corporate Practice in Washington, D.C., Dr. Robert Hardy in the Corporate Practice in Amsterdam, and Daniel I. Schloss in the Intellectual Property & Technology Practice in New York, Consultant Ewen Mitchell in the Intellectual Property & Technology Practice in London, New York Corporate Associates Dario Ciapponi, Ricardo Crispim Leite, Yoojin Lee, Alexander Sellinger, and Selina Yoo, Associates Nickie Pickernell in the Finance Practice in New York, Suraj Padhiar in the Corporate Practice in London, Dr. Lucas Wüsthof in the Antitrust Litigation & Competition Regulation Practice in Berlin, Anna Celejewska-Rajchert in the Corporate Practice in Warsaw, Minwook Choi in the Corporate Practice in Seoul, Sukhdeep S. Gill in the Intellectual Property & Technology Practice in Philadelphia, Melissa T. Gaglia in the Tax Practice in New York, Whitney Bly Edwards, Ph.D. in the Labor & Employment Practice in Atlanta, Henry Agee in the Real Estate Practice in Las Vegas, Julie P. Dostal in the Environmental Practice in Philadelphia, Jorge Andazola in the Labor & Employment Practice in Mexico City, Mitsuru Tadatsu in the Litigation Practice in Tokyo, Keijiro Yodozawa in the Real Estate Practice in Tokyo, and Byoungjoo Lee in the Corporate Practice in Seoul, and Law Clerks Rodrigo Silva-Herzog in the Real Estate Practice in Mexico City, and Hailey Petrick in the Corporate Practice in New York and Anayo Umeh in the Corporate Practice in New York.
About Greenberg Traurig: Greenberg Traurig, LLP has more than 2750 attorneys in 49 locations in the United States, Europe and the Middle East, Latin America, and Asia. The firm is a 2024 BTI “Leading Edge Law Firm” for delivering on client expectations for the future and is consistently among the top firms on the Am Law Global 100 and NLJ 500. Greenberg Traurig is Mansfield Rule Certified Plus by The Diversity Lab. The firm is recognized for powering its U.S. offices with 100% renewable energy as certified by the Center for Resource Solutions Green-e® Energy program and is a member of the U.S. EPA’s Green Power Partnership Program. The firm is known for its philanthropic giving, innovation, diversity, and pro bono. Web: www.gtlaw.com.