Solvay officially completes Cytec takeover
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*)