Divestiture of the Former DuPont European PVB Film Business

TOKYO, Japan, Kuraray Co., Ltd. (“Kuraray”, TSE:3405) reached an agreement to sell the European PVB film business formerly owned by European subsidiaries of E.

I. du Pont de Nemours and Company (“DuPont”), including the production facility in Uentrop and the R&D center in Mechelen  (the “Transaction”) for enterprise value of circa EUR 12 million with adjustments for net cash/debt balance and net working capital upon closing to GVC S.A. which is a subsidiary company of GVC Holdings, Inc. The Transaction was undertaken to comply with the European Commission’s conditional approval of the acquisition of the Glass Laminating Solutions / Vinyls Business from DuPont by Kuraray, which closed on June 1st, 2014 (U.S. local time).

The Transaction is anticipated to close in January 2015, after customary regulatory approvals. The Transaction’s closure is also conditional upon the European Commission’s approval.

The impact of the Transaction on consolidated results for the fiscal year ending December 2014 is currently being quantified and will be disclosed after this assessment has been completed.

(References)

Profile of Kuraray

(1) Name : Kuraray Co., Ltd.

(2) Headquarter : Chiyoda-ku, Tokyo, JAPAN

(3) Representative : Fumio Ito

(4) Business : Manufacturing and sales of chemicals and resins, fibers and textiles, high performance materials,

medical products and others

(5) Establish : 1926

(6) URL : http://www.kuraray.co.jp/en

Profile of GVC S.A.

(1) Name : GVC S.A.

(2) Headquarter : Luxembourg

(3) Representative : Dr. Greg Parekh

(4) Business : Investment management of European companies, and operation of their business

(5) Establish : 2014

(6) URL : http://www.gvcsa.com

Profile of GVC Holdings, Inc.

(1) Name : GVC Holdings, Inc.

(2) Headquarter : Montavale, New Jersey, USA

(3) Representative : H. Aaron Parekh

(4) Business : Investment management with a focus on chemical and healthcare sectors

(5) Establish : 1992

(6) URL : http://www.gvcholdings.com/

600450 Divestiture of the Former DuPont European PVB Film Business glassonweb.com

See more news about:

Others also read

The ‘World of Innovative Glass Lamination Solutions’ – an international design competition for projects using laminated glass or laminated safety glass – took place between June 11 and September 7.
Trosifol™ Booth attracts huge interest on All Days of the Show
Interim injunction against misleading use of the SentryGlas® trademark by Asian exhibitor at glasstec 2018.
At 48 m high the monument La Ventana al Mundo − or The Window to the World − in Barranquilla, Colombia is hard to miss.
DowDuPont™ today announced the members of the future boards of directors of Dow, DuPont, and Corteva Agriscience™, establishing strong governance structures that will support the long-term value creation of each independent company.
From June 11th to September 7th, the international design competition "World of Innovative Glass Lamination Solutions" took place for projects with laminated or laminated safety glass.

From industry

Add new comment