Solvay: Wienerberger Acquires Stake in Pipelife
Solvay, Brussels, Belgium, announced that they have signed a binding agreement for the sale of Solvay’s 50% stake in Pipelife, Vienna, Austria, suppliers of plastic pipe systems, to Wienerberger, Vienna, Austria. Solvay will receive EUR 172 million in cash for the shares, including a special dividend of EUR 10 million. For Solvay the deal represents an Enterprise Value of about EUR 257 million for its 50% stake when taking into account assumption of liabilities, including pensions and other debt-like items, for about EUR 85 million. The closing is expected in the second quarter of 2012, after obtaining the usual antitrust authorizations.
Would you like to subscribe to our Newsletters on plastics technology and profit from the latest information?

Patents encourage innovation: Stay on the ball with the latest innovations in the plastics industry in our patents section.