Solvay to sell its stake in RusVinyl
March 03 2023 - 11:45AM
Solvay to sell its stake in RusVinyl
Solvay to sell its stake in RusVinyl
Brussels, March 3, 2023 - 17:45 CET
Solvay announced that it has agreed on final terms to sell its
50% stake in the RusVinyl joint venture to its joint venture
partner Sibur. Upon completion, the divestment will represent
another important milestone in the transformation of Solvay’s
portfolio, and will mark the final step in the Company’s strategy
to exit its cyclical global polyvinyl chloride (PVC)
operations.
The agreement is based on a purchase price for Solvay’s 50%
stake of around €430 million. A capital loss of around €175 million
will be recognized on completion mainly reflecting the
crystallization of historic currency translation balances.
The completion of the transaction is expected to take place
towards the end of the first quarter 2023.
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