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Article: Brussels Sets Conditions for Industri Kapital's Purchase of Perstorp.(International Pages)(Brief Article)
- Article from:
- Chemical Week
- Article date:
- May 23, 2001
- Author:
CopyrightCOPYRIGHT 2001 Access Intelligence, LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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THE EUROPEAN COMMISSION HAS approved Industri Kapital's proposed SK6.4-billion ($624 million) acquisition of Perstorp, on condition that Industri Kapital divest a number of assets (CW, May 2, p. 18). Industri Kapital made its latest offer for Perstorp in March after abandoning a previous bid last year.
Industri Kapital has agreed to divest Perstorp's resins plant and one of Perstorp's five formaldehyde units, both at Perstorp, Sweden. It expects to sell both assets, which generate combined sales of SK250 million/year, to the same buyer. The resins unit makes phenol formaldehyde resins and melamine resins; Perstorp has four other such plants, located in Brazil, ...