Divestiture of the Former DuPont European PVB Film Business
Kuraray Co., Ltd. reached an agreement to sell the European PVB film business formerly owned by European subsidiaries of E. I. du Pont de Nemours and Company, including the production facility in Uentrop and the R&D center in Mechelen (the “Transaction”) for enterprise value of circa EUR 12 million with adjustments for net cash/debt balance and net working capital upon closing to GVC S.A., which is a subsidiary company of GVC Holdings, Inc. The Transaction was undertaken to comply with the European Commission’s conditional approval of the acquisition of the Glass Laminating Solutions / Vinyls Business from DuPont by Kuraray, which closed on June 1, 2014 (U.S. local time).
The Transaction is anticipated to close in January 2015, after customary regulatory approvals. The Transaction’s closure is also conditional upon the European Commission’s approval.
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