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People & Business :: M&A
Brenntag Agrees to Buy Chinese Solvents Distributor
12:03 PM MDT | June 9, 2011 | Nancy Seewald
Brenntag says it has agreed to acquire Zhong Yung Chemical (Hong Kong), a €255-million ($373-million) chemical distributor focused on the solvent industry. Purchase price was not disclosed. The deal will take place in two phases, with Brenntag first acquiring a 51% stake in Zhong Yung, slated to occur in the third quarter, then acquiring full ownership in 2016. “Entering into a joint venture for five years gives Brenntag the opportunity to use the experience and know-how of Zhong Yung and its management team to establish a solid business platform for...
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