Specialty chemicals company LANXESS has successfully completed the purchase of the phosphorus chemicals business from Belgian chemicals group Solvay including its U.S. production site in Charleston, South Carolina. All relevant antitrust authorities have cleared the transaction. LANXESS and Solvay agreed to the purchase in mid-November 2017.
The site in Charleston includes six production plants, where roughly 90 employees manufacture phosphorus chloride plus numerous derivative products such as flame-retardant additives and intermediate products for agrochemicals. The business represents annual sales of roughly EUR 65 million.
The acquisition is another consistent step in the Group’s growth strategy with a focus on mid-sized markets and the North America and Asia regions.
The European Union said Monday that it has approved Agrofert Group’s acquisition of Borealis AG’s nitrogen business after concluding that the deal wouldn’t raise competition concerns. Agrofert is a Czech conglomerate, while Austrian chemical and fertilizer company Borealis is 75%-owned by OMV AG with the remaining 25% held by Abu Dhabi National Oil Co.
LyondellBasell Industries N.V. and Mepol Group announced they have entered into a definitive agreement for LyondellBasell to acquire Mepol Group, a manufacturer of recycled, high-performing technical compounds located in Italy and Poland.
Univar Solutions Inc and Apollo announced that funds managed by affiliates of Apollo have entered into a definitive merger agreement to acquire the Company in an all-cash transaction that values the Company at an enterprise value of approximately $8.1 billion.