Mexichem acquires PVC producer Vestolit for â‚¬219 million
10:48 AM MDT | August 5, 2014
Mexichem (Tlalnepantla, Mexico) says it has signed a definitive agreement to acquire Vestolit (Marl, Germany), Europeâ€™s sixth-largest manufacturer of polyvinyl chloride (PVC), from private equity firm Strategic Value Partners (Greenwich, CT) for a total of â‚¬219 million ($294 million) in cash and assumed liabilities. The deal supports Mexichemâ€™s strategy to expand worldwide in high-end specialty products, Mexichem says. The deal is subject to regulatory approvals and is expected to close in the fourth quarter of 2014. Mexichem plans to consolidate Vestolit...
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