TITLE

Lanxess acquires bigger share of Petroflex

AUTHOR(S)
Dawson, Brad
PUB. DATE
November 2008
SOURCE
Rubber & Plastics News;11/3/2008, Vol. 38 Issue 7, p4
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that rubber and chemicals supplier Lanxess AG has purchased a larger stake in rubber producer Petroflex Industria e Comercio SA, paving the way for the Brazilian company to become a wholly owned Lanxess subsidiary. Lanxess acquired 27 percent of Petroflex minority stockholders' shares for about $77 million-based on the October 29 conversion rate from euros-via a public tender offer beginning September 12 and ending October 16.
ACCESSION #
35612506

 

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