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Announced

Completed

Westlake Chemical completed the acquisition of the global epoxy business from Hexion for $1.2bn.

Financials

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Transaction Value£893m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Single Bidder

coatings

Friendly

Majority

Acquisition

Paints and Coatings

Cross Border

Private

Netherlands

Completed

Synopsis

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Westlake Chemical, a global manufacturer and supplier of materials and innovative products, completed the acquisition of the global epoxy business from Hexion, a producer of epoxy resins, modifiers and curing agents for high-performance materials, coatings and composites, for $1.2bn. “Light-weighting is a critical feature for the manufacture of structural components for automobiles and for renewable energy, particularly the composite blades used by wind turbines, and epoxies are key ingredients for these sustainable products. The industries served by Hexion Epoxy are very attractive to Westlake and the business is expected to be a synergistic addition to Westlake’s existing businesses," Albert Chao, Westlake President and CEO.

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