Solvay files draft tender offer for Rhodia with French authority

07 April 2011 08:41  [Source: ICIS news]

SINGAPORE (ICIS)--Belgium’s Solvay said on Thursday that it has filed a draft offer document to acquire Rhodia for €3.4bn ($4.9bn) with the French Financial Markets Authority (Autorite des Marches Financiers or AMF) on Wednesday night.

Rhodia’s board of directors had unanimously recommended the proposed acquisition.

Solvay’s acquisition of Rhodia will create a new group with €12bn in sales and €1.9bn in recurring earnings before interest, tax, depreciation and amortisation.

($1 = €0.70)

By: Lee Han Min
+65 6780 4359

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