Solvay and INEOS have signed the binding agreement to end their chlorovinyls INOVYN joint venture. Upon completion of the transaction, Solvay will receive a final payment of €335 million and INEOS will become INOVYN’s sole shareholder. Closing should occur in the second half of 2016, subject to customary regulatory approvals.
INEOS was created as a 50-50 Joint venture in May 2013. Combining the chlorvinyls activities of INEOS and Solvay, the PVC producer ranks among the top three worldwide.