Solvay & INEOS Sell Assets to Holding Company ICIG

Source: Reuters 3/19/2015, Location: Europe

Belgian chemicals group Solvay said it agreed to sell some assets to chemical holding company ICIG, as part of a deal with the European Commission to get its PVC joint venture with Switzerland-based INEOS cleared.

Solvay said the sale included plants in Belgium, France, the Netherlands, Germany and Britain but did not give any financial details.

The joint venture between Solvay and INEOS, with estimated sales of 4.3 billion euros ($4.61 billion), will be the world's second-biggest PVC producer after Japan's Shin-Etsu.

The European Commission, which acts as the competition watchdog in the European Union, cleared the deal in May 2014, stipulating that the two groups had to divest certain assets to allay competition concerns.


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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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