IHS Chemical Week
M&A

Reichhold files for bankruptcy, may sell US business to bondholders

4:42 PM MDT | September 30, 2014 | Vincent Valk

Coatings and composites maker Reichhold Industries (Durham, NC) today filed for Chapter 11 bankruptcy protection in US Bankruptcy Court in the District of Delaware. As part of the filing, Reichhold will pursue a sale of its US business, with the...


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Consort Medical to acquire Aesica for $372 million

Private equity firm Silverfleet Capital (London) says that it has agreed to sell its portfolio company Aesica Pharmaceuticals (Newcastle-upon-Tyne, UK) to health-care firm Consort Medical (Hemel Hempstead, UK) for £230 million ($372 million). Aesica...

Moody's: Chemicals M&A to remain strong, often credit-positive, through 2015

Credit ratings agency Moody’s Investors Service (New York) expects robust chemicals mergers and acquisitions (M&A) to remain in place at least through the middle of next year, while many deals – including deals involving high-yield issuers...

Brenntag acquires food ingredients distributor in Italy

Brenntag has agreed to acquire Chimab (Padua, Italy), a supplier of food ingredients and semifinished products for several food subsectors, including beverages, ice cream and desserts, meat, and prepared foods, Brenntag announced today. Chimab is expected to...

Tasnee to raise stake in TiO2 maker Cristal

National Industrialization Co. (Tasnee) says that it has submitted an offer on 28 September to the Gulf Investment Corp. to acquire an additional 13% stake in Cristal, the world’s second-largest producer of titanium dioxide, at a total value of 1.81...

Vopak completes acquisition of China terminal stake

Vopak says it has finalized the previously announced acquisition of a 30% stake in Zhangzhou Gulei Haiteng Jetty Investment Management Co. from Xianglu Petrochemical Zhangzhou Co. The business has been renamed Vopak Terminal Haiteng. It consists of an...

Mitsubishi Chemical commences tender offer for Taiyo Nippon Sanso

Mitsubishi Chemical Holdings announced today that it plans to commence a tender offer for the industrial gases group Taiyo Nippon Sanso (Tokyo) on 30 September. Mitsubishi announced in May that it intends to acquire majority stake in Taiyo Nippon Sanso for...

Deepak Fertilisers and Adventz Group battle for control of Mangalore Chemicals & Fertilisers

The battle to acquire Mangalore Chemicals & Fertilisers (MCF) has intensified. Deepak Fertilisers and Petrochemical Corp. (DFPC; Pune, India), which already holds 25% in MCF, told the Bombay Stock Exchange on Thursday that together with SCM Soilfert Ltd....

Report: Dow seeks single buyer for epoxy and chlorine units

Dow Chemical has initiated a process to sell its epoxy, chlorinated organics, and chlorine businesses preferably to a single buyer. Dow said in December 2013 that it is carving out a $5-billion/year chunk of its chlorine value chain for disposal as part...

Total invests in energy crop start-up NexSteppe

The venture capital arm of French energy group Total announced today that it is investing in NexSteppe (Malibu, CA), a start-up that specializes in tailoring sorghum seeds for biopower, biofuel, and biobased products. NexSteppe, founded in 2010, uses...

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