Solvay : to Sell North American, European Amphoteric Surfactant Business to OpenGate Capital

By Joshua Stein

Solvay SA said Tuesday that it has agreed to sell its North American and European amphoteric surfactant business to U.S. private equity firm OpenGate Capital.

The Belgian chemical company said the sale will include the three main production sites supporting the amphoteric products in University Park, Illinois, in Genthin, Germany, and in Halifax, United Kingdom. Solvay will also sell on its tolling business in Turkey to OpenGate Capital, and has ensured the sale will have minimal impact on the customer base. The sale will generate capital which Solvay will use to invest in its strategic growth segments, it said.

Solvay expects the sale to be closed by the end of March.

The company didn't disclose the financial terms of the contract.

Write to Joshua Stein at [e-mail]

(END) Dow Jones Newswires

01-05-21 1018ET