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Solvay Acquires Soda Ash Producer in Russia
1:53 AM MDT | September 8, 2009 | Natasha Alperowicz
Solvay has signed an agreement with the holding company Sodium Group Investments (Moscow) to acquire its majority stake in OAO Bereznikovski Sodovy Zavod, a producer of soda ash based at Berezniki, Russia. The holding company owns approximately 90% in the company being acquired and 100% in ZAO Berkhimprom, which jointly owns and operates the soda ash complex. The two enterprises are currently merging. The agreed enterprise value for the stake amounts to about €160 million ($229.3 million), Solvay says. After the deal is...
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