US Ecolab amends deal to acquire Champion for $2.16bn

03 December 2012 16:20  [Source: ICIS news]

HOUSTON (ICIS)--Ecolab has amended its agreement to acquire speciality chemicals firm Champion Technologies for a reduced amount of $2.16bn (€1.66bn), the US-based producer said on Monday.

In the new deal, parent company Permian Mud Service will spin off Champion’s downstream process and water solutions business prior to the acquisition, Ecolab said.

Houston-based Champion is a global specialty chemicals company focused on upstream, midstream and downstream oil and gas markets.

Corsicana Technologies, Champion’s upstream business included in the original $2.2bn agreement, will not be affected by the new terms, an Ecolab spokesperson said.

The transaction is expected to close by the end of the year, following regulatory clearance and closing conditions, Ecolab said.

($1 = €0.77)

By: Tracy Dang
+1 713 525 2653

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