Solvay secures Brazilian antitrust clearance to sell its Solvay Indupa stake to Unipar Carbocloro
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Brussels, December 7, 2016 --- Solvay has obtained clearance from the Brazilian antitrust authority, CADE, for the agreed sale of its 70.59% stake in Solvay Indupa to chemical group Unipar Carbocloro.
Completion of the transaction, at a total enterprise value of US$ 202.2 million as announced in May, is expected to take place in the next weeks. Solvay Indupa produces PVC and caustic soda in Brazil and Argentina.
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| An international chemical and advanced materials company, Solvay assists its customers in innovating, developing and delivering high-value, sustainable products and solutions which consume less energy and reduce CO2 emissions, optimize the use of resources and improve the quality of life. Solvay serves diversified global end markets, including automotive and aerospace, consumer goods and healthcare, energy and environment, electricity and electronics, building and construction as well as industrial applications. Solvay is headquartered in Brussels with about 30,900 employees spread across 53 countries. It generated pro forma net sales of € 12.4 bn in 2015, with 90% made from activities where it ranks among the world's top 3 players. Solvay SA (SOLB.BE) is listed on Euronext in Brussels and Paris (Bloomberg: SOLB.BB - Reuters: SOLB.BR). Acetow is a cellulose acetate tow leader in filtration applications in consumer goods as well as in plastic and textile. Headquartered in Freiburg, Germany, Acetow is a worldwide producer with five production sites and has almost a century of experience in its core competence acetylation. Its innovation strategy is based on improving its core business and diversification. |
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Source: Solvay S.A. via Globenewswire
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Solvay S.A. via Globenewswire
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