Solvay announced the acquisition of Cytec, the second largest player in aerospace composite materials, for an enterprise value of US$6.4bn. The total cash consideration will be US$5.5bn, reflecting a 27% premium on the volume-weighted average closing share price over the last quarter. Financing has to be fully financed and will consist of a €1.5bn rights issue, €1.0bn hybrid instruments and senior debt issuance. The acquisition is expected to be closed in Q4 15.
30 Jul 2015
Cytec – the next Rhodia or a real change?
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Cytec – the next Rhodia or a real change?
Solvay SA (SOLB:WBO) | 0 0 0.5% | Mkt Cap: 11,953m
- Published:
30 Jul 2015 -
Author:
Martin Schnee -
Pages:
2
Solvay announced the acquisition of Cytec, the second largest player in aerospace composite materials, for an enterprise value of US$6.4bn. The total cash consideration will be US$5.5bn, reflecting a 27% premium on the volume-weighted average closing share price over the last quarter. Financing has to be fully financed and will consist of a €1.5bn rights issue, €1.0bn hybrid instruments and senior debt issuance. The acquisition is expected to be closed in Q4 15.