Monday, December 17, 2007

LANXESS to acquire 70% stake in Petroflex at approx €198 mln

Leverkusen-based specialty chemicals group LANXESS plans to acquire 70% stake in Petroflex S.A, Brazil, at a provisional price of EUR 198 mln. The acquisition by LANXESS includes purchase of stakes held by current major shareholders Braskem and Unipar, and is subject to approval of the relevant antitrust authorities. Petroflex is one of the world's large-scale producers of synthetic rubber.

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