Domo Under Review as 3rd-Party Buyer for Solvay Polyamide Biz
Brussels, Belgium, August 15, 2019-Domo is being reviewed as third-party buyer with BASF to acquire Solvay’s polyamide business.
Since the approval of BASF to acquire part of the businesses from Solvay back in early 2019, Domo is being reviewed as the buyer that will take over the divested parts as specified by the European Commission. The transaction will be €1.6 billion on a debt free and cash-free basis. This deal will need to wait for final approval from the European Commission and is expected to conclude before the end of 2019.
Domo will acquire the manufacturing assets and innovation capabilities of Solvay’s polyamide engineering plastics business in Europe. This includes the following: France, Saint-Fons with HMD, AH-Salt, PA66 and EP production and EP development, Valence with PA66 and staple fibers business; Spain, Blanes with AH-Salt and PA66 manufacturing; and Poland, Gorzow with PA6 and EP compounding, joint venture with BASF to produce adipic acid. BASF will acquire the remaining activities, and this includes the joint venture with Invista on the Butachimie ADN plant located in Chalampe, France. Solvay, BASF, and Domo will continue normal operation until completion of the transaction.