Solvay: sells stake in RusVinyl
(CercleFinance.com) - The Belgian chemist Solvay has agreed to the final conditions for the sale of its 50% stake in the RusVinyl joint venture to its partner Sibur.
The sale will mark the final step in the company's strategy to exit its cyclical global polyvinyl chloride (PVC) business.
A purchase price of approximately 430 million euros has been agreed for Solvay's 50% stake.
The resulting capital loss of approximately 175 million euros will be recognised once the transaction has been completed. This is scheduled for Q1 2023.
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