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People & Business :: Companies
Klesch and Arkema at odds over PVC producer Kem One
11:31 AM MDT | March 19, 2013 | —Francinia Protti-alvarez
A legal dispute has erupted between Klesch Group (Geneva), a special situations investor; and Arkema over Kem One (Lyon, France), the former polyvinyl chloride (PVC) business of Arkema, which Klesch acquired last year. Klesch is seeking €310 million ($403.6 million) in compensation from Arkema for “significant gaps between the financial information presented by Arkema’s management before the transaction was concluded and the current financial results,” Klesch said in a statement on 4 March. The compensation claim covers Kem One SAS, which...
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