3 May 2016
DETAILS
Solvay has signed a definitive agreement
with Brazilian chemical group Unipar Carbocloro
to sell its 70.59% stake in Solvay Indupa.
The transaction is based on
a total enterprise value of US$ 202.2 million,
which shall be subject to customary adjustments.
Completion of the transaction is subject
to the customary closing conditions,
including antitrust approval.
Created in 1948, PVC and caustic soda producer
Solvay Indupa has 956 employees and two production sites
in Brazil and Argentina, where it is listed
on the Buenos Aires Stock Exchange.
Solvay had already classified
Solvay Indupa as an “Asset held for sale”.
Vincent De Cuyper,
Member of Solvay’s Executive Committee
“Solvay’s divestment of Indupa follows our announced
early exit of our European PVC joint venture
as Solvay is transforming into
a specialty chemicals group,”
“In acquiring Solvay Indupa, Unipar will strengthen
its strategic position
in the caustic soda and chlorine value chain
extending its chemical footprint in PVC
and allowing for the further development of Indupa.”
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