Unipar Carbocloro SA (BOVESPA:UNIP6) signed a definitive agreement to acquire 70.59% stake in Solvay Indupa S.A.I.C. (BASE:INDU) from Solvay Argentina S.A. for approximately ARS 1 billion on May 3, 2016. The enterprise value shall be subject to customary adjustments. Completion of the transaction is subject to the customary closing conditions approval of the Brazil's government and antitrust approval. The administrative council of Unipar Carbocloro approved the transaction on April 28, 2016. As of July 15, 2016, The Comisión Nacional de Valores (CNV) rejected the offer price. As of July 26, 2016, a new offer of ARS 3.47 per share was submitted to the CNV for approval. Unipar Carbocloro has decided to offer a new price for the Squeeze-out. CADE considered the deal is complex and some kind of remedial action will have to be taken. The deal is approved by CADE. As of January 6, 2017, the price per share of ARS 3.47 was approved by the CNV. The deal is expected close in the next weeks. Lazard Ltd. (NYSE:LAZ) acted as financial advisor for Solvay SA, parent of Solvay Argentina.

Unipar Carbocloro SA (BOVESPA:UNIP6) completed the acquisition of 70.59% stake in Solvay Indupa S.A.I.C. (BASE:INDU) from Solvay Argentina S.A. on December 27, 2016. The Board of the National Commission of securities has resolved in their meeting on the January 5, 2017 to approve the formal terms of the Obligatory Squeeze-out. As on January 6, 2017, the Argentine Securities Commission approved the value of ARS 3.47 as the price of the mandatory tender offer for the acquisition of all the shares of Unipar Indupa S.A.I.C. The Offer will be valid for a total of 25 working days, from January 23, 2017 to February 17, 2017. An additional offer period will last 5 working days, starting February 20, 2017 and February 24, 2017. The offer is based on the voluntary acceptance of the offer by the shareholders of Solvay Indupa, and will be maintained whichever number of acceptances are received.