16 June 2010 23:00 [Source: ICIS news]
HOUSTON (ICIS news)--Rhodia plans to acquire ?xml:namespace>
Rhodia said the acquisition price was based on an enterprise value of $489m (€396m) for 100% of the company. Feixiang’s current majority owner would retain 12.5% of the capital over the next two years, Rhodia said.
Rhodia chairman and chief executive Jean-Pierre Clamadieu said the acquisition of Zhangjiagang city-based Feixiang in
“We aim to double the size of the acquired business within the next five years,” he said. “Following the completion of this acquisition, Rhodia will generate around one-third of its net sales in
Feixiang Chemicals employed about 650 people, with top line growth averaging 20%/year, Rhodia said.
Rhodia said it expected to finalise the acquisition in the second half of this year.
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