China's Wanhua acquires 38% stake in Hungarian isocyanate producer/ Majority shareholders approve

摘要

The senior and mezzanine lenders of Hungarian isocyanate manufacturer BorsodChem (Kazincbarcika; www.borsod-chem.hu) have approved the company's financial restructuring scheme. As part of the deal, Yantai Wanhua Poly-urethane (Yantai, Shandong / China; www.ytpu.com) will acquire about 38% in BorsodChem's holding company First Chemical Holding (FCH) in return for injecting EUR 140m into the Hungarian group. BorsodChem said the money would go towards financing its TDI 2 and nitric acid plants.