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People & Business :: Companies
Klesch and Arkema lock horns over vinyls producer Kem One
11:50 AM MST | March 6, 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 vinyls 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 says in today's statement. The compensation claim covers Kem One SAS, which covers the company's upstream...
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