Solvay officially completes Cytec takeover

By Liz Gyekye
Published: Wednesday, 09 December 2015

The Belgian company has finalised the acquisition of its US counterpart Cytec, marking a step change in Solvay’s portfolio upgrade. Solvay has now embarked on integration plans as it aims to fully consolidate Cytec within the group as of from 1 January 2016.

Belgian chemical giant Solvay SA has officially completed the acquisition of US counterpart Cytec Industries Inc. for $5.5bn to boost its product offering and expand into the aerospace industry.

The financing of the deal is nearly completed, Solvay said. It consists of the issuance of around €4.7bn ($5.15bn*) senior and...

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