Solvay S.A. (Brussels, Belgium; www.solvay.com) has signed a definitive agreement with Brazilian chemical group Unipar Carbocloro to sell its 70.59% stake in Solvay Indupa.
“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,” said Vincent De Cuyper, member of Solvay’s Executive Committee. “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.”
The transaction is based on a total enterprise value of $ 202.2 million, which shall be subject to customary adjustments.
Completion of the transaction is subject to the customary closing conditions, including antitrust approval.