Solvay completes sale of Acetow

Solvay has announced the completion of the divestment of its cellulose acetate tow business,

Acetow, to private equity funds managed by Blackstone.

The transaction is based on an enterprise value of around € 1 billion, resulting in net financial debt reduction of some € 0.7 billion.

More information can be read here: http://www.britishplastics.co.uk/materials/solvay-to-sell-acetow-business/