- June 11, 2021
- Posted by: Stratford Team
- Category: Business
MIAMI–(BUSINESS WIRE)–Element Solutions Inc (NYSE:ESI) (“Element Solutions,” “ESI” or the “Company”), a global and diversified specialty chemicals company, announced today that it has made a binding offer* to acquire Coventya Holding SAS (“Coventya”), a global provider of specialty chemicals for the surface finishing industry. Under the terms of the offer, Element Solutions will pay approximately €420 million in cash, including the assumption or repayment of debt, subject to certain adjustments. The transaction is expected to close in late Q3 or Q4 2021, subject to receipt of certain regulatory approvals, completion of required employee consultation procedures and other customary closing conditions. Upon the closing of the transaction, Coventya will join MacDermid Enthone Industrial Solutions and will be reported within the Company’s Industrial & Specialty segment.
Coventya is a global specialist in developing metal finishing…