Solvay: completes sale of polyamide activities
(CercleFinance.com) - Solvay has announced that it has completed the sale of the polyamide activities to BASF and Domo Chemicals, the last stage of the transaction between Solvay and BASF.
This deal, for which approval from Brussels depended on the sale of certain polyamide assets to a third party.
The assets acquired by the third party - Domo Chemicals - notably include, sites in Belle-Etoile and Valence (France), a stake in a joint venture between BASF and Domo in Chalampé, along with commercial activities in Germany and Italy.
The deal is worth 1.6 billion euros. The net proceeds from the sale that will be collected for the combined transaction, are estimated at approximately 1.2 billion euros, subject to customary adjustments to the purchase price following its completion.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
This deal, for which approval from Brussels depended on the sale of certain polyamide assets to a third party.
The assets acquired by the third party - Domo Chemicals - notably include, sites in Belle-Etoile and Valence (France), a stake in a joint venture between BASF and Domo in Chalampé, along with commercial activities in Germany and Italy.
The deal is worth 1.6 billion euros. The net proceeds from the sale that will be collected for the combined transaction, are estimated at approximately 1.2 billion euros, subject to customary adjustments to the purchase price following its completion.
Copyright (c) 2020 CercleFinance.com. All rights reserved.