Umicore has reached an agreement to sell its Zinc Chemicals business unit to OpenGate Capital, a US-based private equity firm with a focus on developing a broad portfolio of high-quality industrial activities.
The transaction places an enterprise value of € 142.4 million on the business and is expected to be closed during the second half of 2016, subject to standard regulatory approvals.
Commenting on the transaction, Umicore CEO Marc Grynberg said: “We are delighted to have concluded this deal. Zinc Chemicals has an outstanding portfolio of products and operations and our colleagues have done a great job to position the business as a leader in its market segments. The new owner has a clear industrial project and will provide the business with the means to further develop and grow.”
BNP Paribas and Cleary Gottlieb Steen & Hamilton acted as Umicore’s advisers in the transaction.
Sika AG (Baar, Switzerland) has opened a new plant in Santa Cruz de la Sierra, thus doubling its production capacity for mortar and concrete admixtures in Bolivia. With this new facility in one of the country’s main industrial agglomerations, Sika is positioning itself for continued growth in the dynamic Bolivian construction market.
Chevron Corporation (NYSE: CVX) and Renewable Energy Group, Inc. (NASDAQ: REGI) (REG) announced on Monday a definitive agreement under which Chevron will acquire the outstanding shares of REG in an all-cash transaction valued at $3.15 billion, or $61.50 per share.
Lotte Chemical Corp. will invest 10 trillion won ($8 billion) on hydrogen and battery materials through 2030 to achieve annual revenue of 50 trillion won and carbon neutrality. The Korean chemical producer on Thursday unveiled its new corporate vision outlining key corporate strategies with focus on growth through hydrogen energy and battery materials businesses.