Solvay sell its PVC subsidiary Solvay Indupa Unipar

Solvay to sell PVC subsidiary in a $202 million deal

5:08 AM, 3rd May 2016
Solvay to sell its PVC subsidiary Solvay Indupa to Unipar

BRUSSELS, BELGIUM: Solvay SA has signed a definitive agreement to sell its 70.59 percent stake in Solvay Indupa to Brazilian chemical group Unipar Carbocloro.

The transaction is based on a total enterprise value of $202.2 million.

“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.”

Created in 1948, polyvinyl chloride (PVC) and caustic soda producer Solvay Indupa has 956 employees and two production sites in Brazil and Argentina, where it is listed on the Buenos Aires Stock Exchange. Solvay had already classified Solvay Indupa as an “Asset held for sale”.

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