The German antitrust regulator has approved the acquisition of German soda manufacturer Sodawerk Holding Stassfurt (SWS) for EUR 75 million (USD 109.7 million) by Polish listed chemical group Ciech fr…
The German antitrust regulator has approved the acquisition of German soda manufacturer Sodawerk Holding Stassfurt (SWS) for EUR 75 million (USD 109.7 million) by Polish listed chemical group Ciech from private equity funds and individual investors, Ciech said on 13 December 2007. Ciech announced the purchase in November 2007, but required the approval of the German regulators to complete the deal. SWS makes bicarbonate of soda and light and heavy calcined soda. It has an annual soda production capacity of 450,000 tonnes. The transaction will be finalised with Ciech“s own funds and with proceeds raised in a bond issue. Ciech is Europe“s third-largest soda producer after Belgium“s Solvay and the UK“s Brunner Mond.