(Boursier.com) — The group Solvay announces that it has agreed on the final terms to sell its 50% stake in the RusVinyl joint venture to its partner Sibur. Once completed, this divestment will mark another important step in Solvay’s portfolio transformation and the final step in its strategy to exit from global cyclical polyvinyl chloride (PVC) businesses.
The deal is based on a buyout price for Solvay’s 50% stake of around 430 million euros. A capital loss of approximately €175 million will be recorded at the end of the transaction, mainly reflecting the materialization of historical translation differences.
Closing of the transaction is expected to occur towards the end of the first quarter of 2023.
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