Mexichem to acquire Wavin for €531 million
9:15 PM, 8th February 2012
TLALNEPANTLA, MEXICO/ZWOLLE, THE NETHERLANDS: Mexichem and Wavin jointly announced that they have reached a conditional agreement in connection with a public cash offer by Mexichem for all issued and outstanding ordinary shares of Wavin at an offer price of €10.50 for each Wavin ordinary share. The offer values 100 per cent of the issued and outstanding shares of Wavin at approximately €531 million ($704 million). The companies will capitalise on a strong complementary fit in geography, product portfolio, R&D and business lines and together will be better equipped for future growth from consolidation and expansion into new markets.
"A combination between Mexichem and Wavin represents an important step for both of our companies in creating the leading global operator in the plastic pipe systems industry. The geographic footprint and product portfolio of Wavin and Mexichem are highly complementary and together we will be exceptionally positioned to capitalise on growth opportunities," said Ricardo Gutierez Munoz, President of Executive Committee, Mexichem.
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