Chemical Week Magazine :: Newsbriefs
Solvay sells Eco Services to private equity firm
7:01 AM MDT | August 1, 2014
Solvay says it has signed a binding agreement to sell its US-based sulfuric acid regeneration and virgin production business Eco Services to CCMP Capital Advisors following a bidding process. The transaction terms correspond to an enterprise value of â‚¬660 million ($884 million), which represents just over 8.0 times adjusted Ebitda for the 12 months ended 30 June. Solvay says it will report the Eco Services business under discontinued operations as of the third quarter. Completion of the transaction is expected in the fourth quarter, subject to the customary...
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