Solvay (Brussels / Belgium; www.solvay.com) has agreed to sell its 70.59% stake in Latin American PVC and caustic soda producer Solvay Indupa (São Paulo / Brazil) to Brazilian chemicals company Unipar Carbocloro (São Paulo; www.uniparcarbocloro.com.br). The transaction, which is subject to antitrust approval, is based on a total enterprise value of USD 202.2m (EUR 177m).

"Solvay's divestment of Indupa follows our announced early exit of our European PVC joint venture as Solvay is transforming into a specialty chemicals group," said Solvay board member Vincent De Cuyper (see also Plasteurope.com of 01.04.2016). "In acquiring Solvay Indupa, Unipar will strengthen its strategic position in the caustic soda and chlorine value chain extending its chemical footprint in PVC and allowing for the further development of Indupa," he added.

Solvay previously attempted to sell Indupa to Brazilian resins major Braskem (São Paulo; www.braskem.com.br), but the deal broke down because it was blocked by Brazil’s antitrust authorities – see Plasteurope.com of 14.11.2014.

Created in 1948, Indupa has 956 employees and has production sites in Santo Andre / Brazil and Bahia Blanca / Argentina.