Belgium: Cellulose Acetate Solvay Completes Sale of Cigarette-Filter Business
Solvay has completed the divestment of its cellulose acetate tow business, Acetow, to private equity funds managed by Blackstone.
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(Source: Pixabay)
Brussels/Belgium — The transaction is based on an enterprise value of around € 1 billion, resulting in net financial debt reduction of some € 0.7 billion.
Acetow is a reference partner for cigarette filter producers and a supplier of cellulose acetate flakes to the manufacturing sector.
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