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Westlake Chemical to buy PVC producer Vinnolit

11:38 AM MDT | May 28, 2014 | Natasha Alperowicz

Westlake Chemical Corp. announced today that it has signed a definitive agreement to acquire Vinnolit Holdings (Ismaning, Germany) and its subsidiary companies from Advent International, a private equity firm. Vinnolit is an integrated, global leader in specialty polyvinyl chloride (PVC). The acquisition price of €490 million ($666.8 million) will be financed using existing Westlake cash and credit facilities. The transaction is expected to close in the third quarter of 2014, subject to standard closing conditions, including regulatory review.   ...

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