Rhodia announces additional divestitures
Rhodia announced several developments regarding its divestiture program:
- Divestiture of its 50% share in the Chilean company Extractos Naturales Gelymar SA to Sintex SA and Algina Inversion SA. Sintex SA and Algina Inversion SA currently own 50% of Gelymar,
- The signing of an exclusive agreement with Thermphos to negotiate the sale of Rhodia's European specialty phosphates business,
- The signing of an agreement in principal for the sale of its Rhodia Research property in Aubervilliers, outside Paris, to the Compagnie des Entrepôts et Magasins Généraux de la Ville de Paris (EMGP). The specialty phosphates and Rhodia Research property divestitures should be finalized during the second quarter 2004.
With these three new transactions, together with Rhodia's divestiture of its food ingredients business to Danisco, expected to be finalized in May 2004 , and with the sale of its stake in Baïkowski Chimie, announced February 19, Rhodia will have achieved approximately 400 million euros in divestitures during the first semester of 2004.
The Group confirms its objective of achieving more than 700 million euros of proceeds from disposals in 2004
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