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Solvay: sale of Indupa stake to Braskem is underway, does not depend on deal for listed Indupa shares

5:38 AM MST | January 9, 2014 | Ian Young

Solvay has issued a statement confirming that the planned divestment of the company's 70.59% stake in polyvinyl chloride producer Solvay Indupa to Braskem is moving ahead and does not depend on the success of Braskem's tender offer to purchase the remaining Indupa shares, which are publicly traded on the Argentinian stock exchange. "Contrary to what we have been reading in some media reports this week, Solvay confirms that the planned divestment of its stake in Solvay Indupa to Braskem is well underway," Solvay says. Braskem is required, under...

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