Kuraray to sell European polyvinyl butyral film business

7:33 AM, 18th October 2014

TOKYO, JAPAN: Kuraray Co Ltd has reached an agreement to sell the European polyvinyl butyral (PVB) film business formerly owned by European subsidiaries of E. I. du Pont de Nemours and Company (DuPont), including the production facility in Uentrop and the R&D centre in Mechelen for enterprise value of circa €12 million with adjustments for net cash/debt balance and net working capital upon closing to GVC SA which is a subsidiary company of GVC holdings, inc. The transaction was undertaken to comply with European Commission’s conditional approval of the acquisition of the glass laminating solutions/vinyl business from DuPont by Kuraray, which closed on 1 June 2014.

The transaction is anticipated to close in January 2015, after customary regulatory approvals. The transaction’s closure is also conditional upon the European Commission’s approval. The impact of the transaction on consolidated results for the fiscal year ending December 2015 is currently being quantified and will be disclosed after this assessment has been completed.

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