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French court grants one-week extension on Kem One takeover case; two bids confirmed

9:25 AM MST | December 12, 2013 | Francinia Protti-Alvarez

Two bids have been confirmed for the possible acquisition of debt-ridden polyvinyl chloride (PVC) manufacturer Kem One (Lyon, France), the company announced today. The Commercial Court of Lyon called a further hearing, to allow time to complete the formalization of agreements with Kem One's raw material and utility suppliers, and to enable the Kem One joint consultative committee to give an opinion. The hearing is set for 18 December at which time the court will announce its decision on the bids. The confirmed bids were submitted by buyout firm OpenGate Capital...

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