Unipar Carbocloro's acquisition of Solvay Indupa receives regulatory clearance

12-Dec-16

Brazilian chlor-alkali and caustic soda producer Unipar Carbocloro's acquisition of Argentinian poly-vinyl chloride maker Solvay Indupa has received clearance from Brazilian regulators, as per Platts.
"Solvay has obtained clearance from the Brazilian antitrust authority, CADE, for the agreed sale of its 70.59% stake in Solvay Indupa to chemical group Unipar Carbocloro," Belgium-based Solvay said in a statement. "Completion of the transaction, at a total enterprise value of US$202.2 mln as announced in May, is expected to take place in the next weeks."
Solvay Indupa has a 220,000 mt/year PVC facility in Bahia Blanca, Argentina, and a 290,000 mt/year plant in Santo Andre, Sao Paulo state, Brazil. Solvay Indupa also produces chlorine, ethylene dichloride and vinyl chloride, among other products.

In 2013, Brazil's Braskem, the largest petrochemical producer in Latin America, announced the acquisition of Solvay Indupa after nearly a year of negotiations. The deal, however, was rejected by Brazil's Administrative Council for Economic Defense (CADE). Solvay Indupa is considered Braskem's main competitor in the South American PVC market.