Brussels, June 1, 2017 — Solvay has completed the divestment of its business in the cables of cellulose acetate to a private equity fund managed by Blackstone.
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The transaction is based on an enterprise value of approximately one billion euros, contributing to the reduction of the net financial debt of approximately € 0.7 billion.
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Solvay is a group of chemistry with high added value, committed to the development of products to meet the major societal challenges. The Group innovates in partnership with its customers to create products and sustainable solutions, which are used in various markets such as aerospace, automotive, electronics and health, the batteries, the mining and oil extraction. Materials relief contribute to a more sustainable mobility ; its formulations promote the optimization of resources and its high-performing products that contribute to the improvement of the quality of the air and water. The Group, headquartered in Brussels, employs about 27 000 people in 58 countries. In 2016, Solvay has achieved a turnover of 10.9 billion euros, of which 90 % in activities where it is among the first three groups in the world. Solvay SA (SOLB.BE) is listed on the Euronext stock exchange in Brussels and Paris (Bloomberg: SOLB.BB – Reuters: SOLB.BR) and the United States, his actions (SOLVY) are traded through an ADR program level 1.
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