22 December 2006 11:38 [Source: ICIS news]
LONDON (ICIS news)--Air Liquide’s €590m ($777m) purchase of Linde’s 45% stake in their Japan Air Gases joint venture was the latest in December's frenzy of mergers and acquisitions as companies rush to secure deals before the New Year.?xml:namespace>
Listed below are some of the major chemical mergers and acquisitions this December as reported on ICIS news.
4 December – ?xml:namespace>
5 December – Rhodia agreed to sell its European industrial fibres business to private equity firm Butler Capital Partners for an undisclosed sum.
7 December – Malaysian palm oil and oleochemical player IOI Group agreed to buy Pan Century Oleochemicals and Pan Century Edible Oils for Malaysian ringgit 423m ($118m).
8 December – Private equity firm MidOcean Partners bought an 80% stake in Europackaging, a
13 December – Celanese divested its Oxo Products and Derivatives businesses to Advent International for €480m. As part of the same deal, Advent also took control of European Oxo (EOXO), a joint venture between Celanese and Degussa.
14 December – Johnson Matthey agreed to sell its ceramics division to private equity firm Pamplona Capital Partners for €226m.
14 December – Lanxess acquired Dow Chemical’s half of their leather chemicals joint venture Chrome International South Africa in its first takeover since the Bayer spin-off.
14 December – Wilmar International agreed to buy PPB Palm Oil for $2.7bn, creating one of the largest palm oil producers and refiners in
14 December –PKN Orlen completed the purchase of 53.7% of Lithuania’s Mazeikiu Nafta oil refinery from Yukos for litas 3.88bn ($1.48bn). Orlen intends to turn the refinery into an oil and petrochemicals complex.
15 December – UK-based investment group 3i completed the purchase of Cognetas’s 56% controlling stake of Italian distributor Azelis for €315m.
15 December – US chemicals firm Solutia agreed to buy Akzo Nobel’s 50% stake in Flexsys, their Belgium-based rubber chemicals joint venture.
18 December – Norwegian energy majors Hydro and Statoil have agreed to merge their oil and gas activities, creating the world’s largest offshore operator, the companies said.
18 December – Dow Chemical said it would buy cellulose firm Wolff Walsrode from Bayer in a deal that would create a $1bn water soluble polymers business.
19 December – Promens completed the acquisition of plastic moulding group Polimoon for Norwegian kroner 1.35bn ($218m).
19 December – US-based forest products company International Paper agreed to sell its Arizona Chemical business for $485m to private equity and buyout firm Rhone Capital.
20 December – Clorox has agreed to pay $126m to take control of Colgate-Palmolive’s bleach business in
21 December – Malaysian plantation firm Kuala Lumpur Kepong bought
($1 = €0.76)
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