Solvay to Sell Stake in Rusvinyl Joint Venture

Business Strategy Solvay to Sell Stake in Rusvinyl Joint Venture

2023-03-09 Source: Press release Ahlam Rais 1 min Reading Time

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Solvay has plans to sell its 50 % stake in the Rusvinyl joint venture to Sibur, its joint venture partner. With this move, the company exits its cyclical global polyvinyl chloride operations.

The completion of the transaction is expected to take place towards the end of the first quarter 2023.(Source: Solvay) — The completion of the transaction is expected to take place towards the end of the first quarter 2023.
(Source: Solvay)

Brussels/Belgium – Solvay has recently announced that it has agreed on final terms to sell its 50 % stake in the Rusvinyl joint venture to its joint venture partner Sibur. Upon completion, the divestment will represent another important milestone in the transformation of Solvay’s portfolio, and will mark the final step in the Company’s strategy to exit its cyclical global polyvinyl chloride (PVC) operations.

The agreement is based on a purchase price for Solvay’s 50 % stake of around 430 million euros. A capital loss of around 175 million euros will be recognized on completion mainly reflecting the crystallization of historic currency translation balances.

The completion of the transaction is expected to take place towards the end of the first quarter 2023.

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