OmnOva in Talks TO acquire eliOkem frOm aXa PrivaTe equiTy

摘要

Omnova Solutions says that it has entered into an agreement with AXA Private Equity (Paris) granting the company a period of exclusiv- ity to acquire specialty chemicals maker Eliokem International for ?227.5 million ($300 million). Omnova says it expects to complete the transaction by the end of 2010 subject to consultation with Eliokem's works council in France, completion of a definitive agree- ment, regulatory approvals, financing and other conditions. Omnova says it raise $425 million in long-term debt to fund the deal and the refinance all existing Omnova and Eliokem debt.