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Solvay to sell Eco Services sulfuric acid business to CCMP Capital Advisors

4:29 AM MDT | July 31, 2014 | Michael Ravenscroft

Solvay says it has signed a binding agreement to sell its US-based sulfuric acid virgin production and regeneration business Eco Services to CCMP Capital Advisors, following a bidding process.  The transaction terms correspond to an enterprise value of €660 million ($890 million), which represents just over 8.0x adjusted Ebitda for the 12 months ended 30 June 2014. Solvay says it will report the Eco Services business under discontinued operations as of the third quarter of 2014. Completion of the transaction is expected in the fourth quarter, subject to...

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