14 December 2016
DETAILS
Solvay has signed a definitive agreement
to sell its 58.77 percent stake
in its Thai subsidiary
to Japanese company AGC Asahi Glass (AGC),
thereby exiting
its Asian polyvinyl chloride (PVC) activities.
The transaction is based on
a total enterprise value of 16.5 billion Thai Baht
(€ 435 million), representing
a multiple of 8x mid-cycle EBITDA.
Completion of the transaction
is subject to customary closing conditions,
including antitrust approvals, and
is expected in the first half of 2017.
Vincent De Cuyper,
Member of Solvay’s Executive Committee
* Solvay’s earlier sale of the European PVC business
and the upcoming completion of
* the divestment of its Brazilian PVC activities.
These transactions represent a significant milestone
in the Group’s transformation towards
a multi-specialty chemical group,”
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