Last hurdle to Inovyn joint venture mounted / Remedy business to be divested to ICIG holding

摘要

Although Ineos (Rolle / Switzerland; www.ineos.com) and Solvay (Brussels / Belgium; www.solvay.com) agreed on the details of their 50:50 Inovyn (London / UK) joint venture in June last year, an agreement for the divestment of the so-called "remedy business" has just been reached. The deal, which follows "extensive discussions with the European Commission", will see private industrial holding International Chemical Investors Group (ICIG, Luxembourg; www.ic-investors.com) acquire the European assets whose divestiture the Commission requires. When all is set and done, Inovyn is expected to be formed sometime in Q2 this year.