INEOS and Solvay sign binding agreement on Solvay’s early exit from INOVYN Joint Venture
INEOS and Solvay have signed the binding agreement to end their chlorvinyls INOVYN Joint Venture, following their intentions announced on 16 March 2016.
Upon completion of the transaction, Solvay will receive a final payment of €335 million and INEOS will become INOVYN’s sole shareholder. Closing should occur in the second half of 2016, subject to customary regulatory approvals.
ENDS