AkzoNobel Makes Bid for Chlor-Alkali Firm

AkzoNobel has made an irrevocable bid to acquire chlor-alkali and derivatives company LII Europe (Frankfurt) from a group of investors. The deal is expected to close by the end of this quarter. LII Europe, which consists of the chlor-alkali business of the former Hoechst, filed for insolvency at a Frankfurt court last year (CW, Oct. 27, 2008, p. 7). LII says it has capacity for about 165,000 m.t./year of chlorine at the Höchst Industrial Park near Frankfurt and that its sales are about €120 million/year ($167 million). Chlor-alkali forms part of...

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