SPAIN: Sun affiliate signs definitive accord to sell Elix Polymers to Sinochem
Sun European Partners announced that one of its affiliates has signed a definitive agreement to sell Elix Polymers to Sinochem International for an enterprise value of USD 195 million.
Elix, headquartered in Tarragona, Spain, is a manufacturer of acrylonitrile butadiene styrene resins and derivatives in Europe. The proposed transaction is subject to customary regulatory approvals. "This is an exciting next step for Elix Polymers as we look to build on the solid platform which Sun has helped us develop under their ownership," noted Elix Chief Executive Wolfgang Doering.
Source: Weekly “PetroChemical News”, Durham, NC, USA; 22 Oct 2018
(Syed Rashid Ali, Karachi, Pakistan)