A&O Shearman, Clifford Chance, and Cleary Gottlieb Steen & Hamilton are advising on French private equity firm Wendel's sale of its majority stake in Dutch coatings specialist Stahl Group to German chemicals maker Henkel. A&0 Shearman’s Amsterdam-based corporate partner Charles Honee and Paris-based M&A and private equity partner Marc Castagnede are advising longtime client Wendel, the firm said on LinkedIn. The deal has an enterprise value of around €2.1 billion ($2.5 billion). Sébastien Metzger is the general counsel for M&A and finance at Wendel, which is listed on Euronext Paris. DAX-listed Henkel is getting advice from Clifford Chance infrastructure, private equity and M&A partners Anselm Raddatz, in Düsseldorf, and Jeroen Thijssen, based in Amsterdam, according to a person with knowledge of the transaction. Cologne-based Cleary Gottlieb partner Julian Sanner is advising Henkel on antitrust aspects of the deal. Düsseldorf-headquartered Henkel, which, among other things, makes adhesives and coatings brand Loctite and laundry detergent Persil, said in a statement that its acquisition of Stahl’s specialty coatings for flexible materials gives it a “highly complementary product portfolio.” Wendel said the sale excludes its stake in Muno, a Belgian wet-end leather production chemicals business. Stahl employs around 1,700 employees and has sales of around €725 million. The transaction is subject to conditions, including mandatory consultation processes, regulatory approvals and other customary closing conditions. Stahl, Wendel and Cleary were contacted for comment. Henkel and Clifford Chance declined to comment. In another coatings industry deal, De Brauw Blackstone Westbroek, Wakkie+Perrick, Davis Polk & Wardwell, and Cravath, Swaine & Moore were among firms advising Amsterdam-based Akzo Nobel NV and Philadelphia-based Axalta Coating Systems on a merger agreement to create a global coatings company valued at around $25 billion.