07/12/2010

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Rhodia to acquire Feixiang Chemicals

With this acquisition Rhodia will integrate speciality amine technologies into Novecare's business portfolio and strengthen its positions in the surfactant business. Following the completion of this acquisition, the company will generate around one third of its net sales in Asia.
The acquisition price is based on an enterprise value of USD 489 million for 100 % of the company, representing an estimated 2010 EBITDA multiple of around 9x. The current majority owner will retain 12.5 % of the capital over the next two years. The completion of the transaction is subject to various customary closing conditions, including approval of the Chinese authorities, and is expected to be finalised in the second half 2010.

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