COLOMBES, FRANCE (April 20, 11:40 a.m. ET) — French chemicals major Arkema SA is said to be in talks to sell a business which makes tin stabilizers used in PVC pipe, according to a report from Bloomberg.
Arkema told European Plastics News the company is not commenting on the story but Bloomberg quotes a spokesperson, said to have knowledge of the situation, saying that first round bids have been submitted. The deal is likely to close in the next quarter, adds the report.
Bloomberg also references an earlier story from Reuters which said that the Valence Group is advising on the deal.
The story comes only months after Arkema announced the sale of its vinyl products business to the Switzerland-based investment firm Klesch Group.
In November 2011 the company said divestment of the PVC business will leave it free to refocus on its specialty chemical activities, including industrial chemicals and performance products.
The Klesch takeover was intended to provide the vinyl products businesses with a “distinct industrial strategy equipped with significant financial resources to boost their long-term development and future”, Arkema stressed at the time.