07 February 2005 15:01 [Source: ICIS news]
The deal includes contingent payments totaling $64.2m, depending on the unit’s operating performance in 2005, Cytec said. About a sixth of the transaction will be paid with about 5.8m Cytec common shares valued at $288.7m, the company added.
The European Commission (EC) approved the sale in December on condition that Cytec divest the surface specialities plant at
In 2004, UCB’s business grew total revenue by 13% to $1.47bn and posted earnings before interest, taxes, depreciation and amortization (EBITDA) of $191m, a gain of 19% from the year before.
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