16 September 2011 18:39 [Source: ICIS news]
HOUSTON (ICIS)--Berkshire Hathaway completed on Friday its acquisition of US-based global specialty chemicals producer Lubrizol.
The all-cash transaction, worth about $9.7bn (€7.0bn), was approved by Lubrizol shareholders after meeting all US and non-US regulatory filing requirements, Lubrizol said.
“Lubrizol is a great addition to the Berkshire Hathaway family of companies,” said Warren Buffett, the chief executive of Berkshire Hathaway. “We expect to see continued strong performance from the company as it executes its growth strategies.”
The deal was cleared earlier this week by China’s Ministry of Commerce.
Lubrizol has manufacturing facilities in 17 countries, including China. Its headquarters will continue to be located in Wickliffe, Ohio.
The acquisition was announced in March.
For more on Lubrizol visit ICIS company intelligence
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