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16 Apr 2026

LPA Singapore advised Humens and Leto Partners on sale of NovaBay to Tata Chemicals

"LPA Law Singapore advised Humens and Leto Partners on the sale of NovaBay, a Singapore sodium bicarbonate manufacturer and Humens subsidiary, to Tata Chemicals. Norton Rose Fulbright provided competition counsel and Tiro Capital acted as financial advisor."

LPA Law Singapore advised French chemical group Humens and investment fund Leto Partners in the sale of NovaBay to Tata Chemicals, with competition counsel provided by Norton Rose Fulbright and financial advisory support from Tiro Capital. The transaction concerns the sale of NovaBay, a Singapore-based manufacturer of sodium bicarbonate and a subsidiary of the French chemical group Humens, to Tata Chemicals. This strategic operation marks an important step for Humens and Leto Partners by supporting NovaBay’s continued development and enabling Tata Chemicals to strengthen its position in higher-value specialty chemicals and to expand its footprint in the Asia-Pacific region. The cross-border deal was completed in the context of a tight timetable and involved complex pricing mechanisms and key transitional arrangements. The parties described the process as collaborative and professional throughout. LPA Law Singapore represented Humens and Leto Partners with a team composed by: Bérengère Roig (team leader) and Sicong Chen (collaborator). Tiro Capital represented Humens and Leto Partners on financial aspects with a team composed by: Nicolas Lebard and Caroline de La Tournelle. Norton Rose Fulbright represented the transaction parties on competition matters with a team composed by: Nicolas Cassauba, Counsel.
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