Solvay considering disposal of Acetow - Newswire Round-up
Solvay, a Belgian chemical company, is considering the sale of Acetow, its fibre business, a newswire reported, citing unnamed insider sources.
Acetow, which supplies material for cigarette filters, has a reported value EUR 1.4bn, a Bloomberg article noted.
Goldman Sachs and Credit Suisse have been mandated to help advise on the potential sale, unnamed sources were quoted as noting. Private equity firms have expressed interest, the item added.
The sale of Acetwo may lead to further disposals at a later stage, the report said, citing two insiders. Solvay is looking to expand in Asia Pacific, as previously reported by this service