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EnviroTech :: Innovation

Croda acquires biobased amides producer in China for £38.2 million

2:49 AM MDT | July 29, 2013 | Francinia Protti-Alvarez

Croda International (Goole, UK) has received Chinese regulatory approval to acquire a 65% equity interest in Sichuan Sipo Chemical (Mianyang, China), a nonlisted, natural speciality chemicals manufacturer, Croda announced today. The majority stake will be acquired from Sichuan Forever Holding Co. and certain individual shareholders for a total consideration of £38.2 million ($54.4 million), including £8 million of debt subject to working capital, net cash, and fixed asset adjustments. Sichuan Forever Holding Co. will continue as the minority...

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