(CercleFinance.com) – Solvay has accepted the final terms for the sale of its 50% stake in the RusVinyl joint venture to its partner Sibur.
The divestment will mark the final step in the company’s strategy to exit its global cyclic polyvinyl chloride (PVC) business.
The agreement is based on a purchase price for Solvay’s 50% stake of approximately 430 million euros. A capital loss of approximately 175 million euros will be recognized at the end of the transaction.
Completion of the transaction is expected to occur towards the end of the first quarter of 2023.