Ineos has completed its acquisition of the full shareholding in INOVYN.
The move brings to an end Solvay’s part interest in the Company.
Ineos and Solvay had formed INOVYN as a 50/50 joint venture last year, with Solvay’s original exit planned for July 2018.
Solvay’s exit was revealed in March this year, and was completed earlier this month following receipt of regulatory approvals.
Solvay received a final exit payment of €335 million.
Jim Ratclifee, chairman of Ineos: “We are delighted to have completed the acquisition of Inovyn, one year since its formation and two years earlier than expected. Chlorvinyls businesses are core to large petrochemicals companies such as Ineos and through this acquisition Inovyn has an owner with a long term vision that provides stability for its business and employees.”
