Yule Catto to Acquire PolymerLatex for €443 Million

Yule Catto (Harlow, U.K.) says it has agreed to acquire PolymerLatex (Marl, Germany) from private equity firm TowerBrook Capital Partners (London) for €443 million ($585.7 million). The purchase price includes the assumption of €286 million in debt. TowerBrook announced earlier this year that is was seeking a buyer for PolymerLatex, Europe’s second-largest producer of latex, after BASF, with 2009 sales of €387 million (CW, July 19/26, p.15). The deal is expected to close in the second quarter of 2011, pending regulatory and shareholder approval. The...

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