Solvay closes Rhodia deal

first_img BELGIAN chemicals group Solvay is betting on emerging markets exposure and speciality chemicals with a €3.4bn (£3bn) cash bid for French group Rhodia.Yesterday’s deal ends Solvay’s search for a takeover after it sold its drugs unit to US partner Abbott Laboratories in September 2009 for €4.5bn. The offer of €31.60 per share for Rhodia, which has been recommended by Rhodia’s board of directors, means Solvay will still have cash left over from its drugs unit sale.The deal will significantly lift Solvay’s exposure to emerging markets, increasing its percentage of sales from fast-growing economies to 40 per cent. Rhodia is particularly strong in China and Brazil and nearly 50 per cent of its sales came from high-growth regions in 2010.It will also enable Solvay to tap into higher-margin speciality chemicals, a fertile area for M&A in the chemicals sector as some firms shift away from traditional low-margin bulk chemicals production. ING analyst Fabian Smeets said Rhodia, which makes engineering plastics, was probably the cheapest stock in the European chemicals sector. Show Comments ▼ More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.com Monday 4 April 2011 8:06 pm Solvay closes Rhodia deal Sharecenter_img KCS-content whatsapp whatsapp Tags: NULL by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesDrivepedia20 Of The Most Underrated Vintage CarsDrivepediamoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldBetterBeDrones Capture Images No One Was Suppose to SeeBetterBeElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldlast_img read more