The hottest Omnova is interested in acquiring Yili

2022-10-14
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Omnova is interested in acquiring ilio

omnovasolutionsinc, a producer of specialty chemicals On the 23rd, it was announced that the company had reached an agreement with axaprivateequity, giving the company an exclusive right period to acquire eliokeminternational, a producer of specialty chemicals. The completion of the proposed transaction depends on the negotiation with Eliokem's trade union in France, the conclusion of the final agreement, regulatory approval, financing and other customary conditions. Following these conditions, the company is expected to complete the transaction by the end of 2010

according to the proposed transaction, Omnova will spend 227.5 million euros (about 300 million dollars at the current exchange rate) for the acquisition of Eliokem. Omnova intends to raise US $425million through new long-term debt, focusing on the early market cultivation and promotion of new materials, so as to provide funds for this transaction and repay all current debts of Omnova and Eliokem. In addition, Omnova intends to expand its unused asset-backed loan line to $100million and expects to have $40million in cash when the acquisition is completed. The company expects that this transaction will not affect or slightly dilute the surplus in 2011, but will increase the surplus in 2012

kevinmcmullen, chairman and CEO of omnivasolutions, said: "This acquisition will enable omnovasolutions to develop into a larger and more diversified company of special chemicals and functional surface materials with more obvious concentration in the industry, and also significantly enhance its global capabilities. This is very in line with OM's strategy of further expanding in the existing market, entering new adjacent markets and the company's global development by using clean dry cotton cloth or cotton cloth dipped in 75% alcohol to wipe the instrument nova."

Eliokem is a global manufacturer of specialty polymers and chemicals, including coating resins, elastomer modifiers, antioxidants, rubber reinforced resins, oil and gas drilling chemicals and special application emulsions

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