Belgium: Cellulose Acetate Solvay Completes Sale of Cigarette-Filter Business

Editor: Alexander Stark

Solvay has completed the divestment of its cellulose acetate tow business, Acetow, to private equity funds managed by Blackstone.

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Acetow produces material used in cigarette filters.
Acetow produces material used in cigarette filters.
(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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