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.
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)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections