Arkema to Acquire Two Chinese Renewable Makers

Le Hénaff: Boosts position in China. Arkema says it will acquire Hipro Polymers (Zhangjiagang, China), a producer of biosourced nylon-10,10; and Casda Biomaterials (Hengshui, China)—a manufacturer of sebacic acid, derived from castor oil and used to manufacture nylon-10,10—for a total of $365 million. The acquisition price is based on an enterprise value of $365 million for 100% of the capital of both companies, which are majority owned by a joint venture between Feixiang Chemicals (Zhangjiagang) and private equity firm Bain Capital, Arkema...

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