What's for sale in European chemicals - December

07 December 2006 14:21  [Source: ICIS news]

LONDON (ICIS news)—The sale of Rhodia’s European industrial fibres business to private equity fund Butler Capital Partners and the impending Kaucuk sales show that M&A (merger and acquisition) activity is alive and well in European chemicals.

 

This week Norwegian energy and aluminium firm Norsk Hydro said it was considering divesting or listing its Hydro Polymers petrochemicals business.

 

In November it was announced that the Russian republic of Bashkortostan would privatise a controlling 53.92% stake in its major petrochemical producer Salavatnefteorgsintez. It was offered at an initial price of Roubles19.5bn ($743m).

 

United Phosphorus (UPL) said it expected to complete the acquisition of Arkema’s phosphates business Cerexagri for €111 by March 2007.

 

Arkema was also looking to sell its Leuna, Germany-based UF resins division.

 

Akzo Nobel was still planning to spin-off its pharmaceutical business in an IPO despite Pfizer pulling out of the collaboration on key drug asenapine.

 

The company said it was still looking for buyers for its PVC additives and remaining methylamine choline chloride businesses and plans to sell its 50% stake in rubber chemicals joint venture Flexys.

 

A number of companies plan to divest businesses before the end of the year and time is running short. The following table list some of the divestments planned for the coming weeks and months.

 

Company

Units up for sale

Business area

Bayer

Wolff Walsrode

Cellulosics

DSM

Fertilizers

European business

Sasol

Olefins & surfactants

Olefin & surfactants
 

Unipetrol

Kaucuk

Rubber

Akzo Nobel

PVC additives; Remaining methylamine choline chloride activities; 50% stake in Flexsys rubber chemicals venture

Chemicals

Akzo Nobel

Organon biosciences IPO

Pharmaceuticals, human vaccines, animal health

Arkema

Cerexagri

Phosphates

Arkema

UF Resins

UF Resins

Bashkortostan

Salavatnefteorgsintez (privatisation)

Petrochemicals

Clariant

LSC business

Life Sciences Chemicals

Norsk Hydro

Hydro Polymers

Petrochemicals

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 















By: Mark Watts
+44 20 8652 3214



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