25 November 2011 09:02 [Source: ICIS news]
SINGAPORE (ICIS)--Belgian specialty chemicals firm Solvay will buy out French financial institution Societe Generale’s stake in Orbeo for an undisclosed amount, Solvay said on Friday.
The transaction is expected to be finalised at the end of 2011, subject to France's Prudential Supervision Authority withdrawing its approval of Orbeo as an “investment company”.
Rhodia and Societe Generale would be ending five years of partnership in providing industrial and financial expertise in the carbon markets, Solvay said.
Orbeo was formed a year after the creation of carbon-trading markets in 2005, the year in which the Kyoto Protocol, an international agreement to reduce greenhouse gas emissions, came into force in ?xml:namespace>
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