02-Sep-2011 - Solvay SA

Total success of Solvay recommended tender offer for Rhodia

Solvay and Rhodia announced the success of Solvay's tender offer on Rhodia for EUR 31.6 per share and American Depositary Share or ADS (equivalent in USD) and EUR 52.32 (after adjustment) per bond convertible into and / or exchangeable into new or existing shares (OCEANE).

The French financial markets authority (AMF) published the results of the tender offer which show that on 24 August 2011, the closing date of the tender offer, 100,267,068 shares and voting rights of Rhodia (including 102,782 ADS equivalent to as much Rhodia shares) had been tendered, representing 94.25% of the share capital and of the voting rights of Rhodia. 12,063,999 OCEANEs had also been tendered, equivalent to 97.51% of the outstanding OCEANEs.

Taking into account the 907.604 own shares held by Rhodia (0.85% of the share capital), the number of Rhodia shares that have not been tendered represents 4.89% of the share capital and voting rights. The number of shares that can be created by converting the non-tendered OCEANEs, when added to the non-tendered shares, represent 4.63% of the share capital and the voting rights of Rhodia, on a diluted OCEANE basis.

Pursuant to its intentions mentioned in the Offer document, Solvay will file a demand for the execution of the procedure for a squeeze-out of the Rhodia shares and the OCEANEs that were not tendered. The AMF will publish the date of execution and the procedure will be issued in a joint Solvay and Rhodia press release.

Christian Jourquin, Chief Executive Officer of Solvay and Jean-Pierre Clamadieu, President and Chairman of Rhodia, made the following joint statement: "We thank the shareholders of Rhodia, who showed their trust by tendering their securities. The integration of the two groups can start now and we look forward to create a new major actor in chemistry, fully involved in sustainable development, innovation and operational excellence."

Facts, background information, dossiers
  • Rhodia
  • Solvay
  • squeeze-out
More about Solvay
  • News

    DOMO Chemicals signs agreement to acquire Solvay’s Performance Polyamides Business in Europe

    DOMO Chemicals and Solvay have signed an agreement for DOMO to acquire Solvay’s Performance Polyamides Business in Europe. This includes Engineering Plastics operations in France and Poland; High Performance Fibers in France; Polymer and Intermediates operations in France, Spain & Poland. T ... more

    Solvay to raise hydroquinone capacity in Europe by 20%

    Solvay is raising its European capacity of hydroquinone by 20%, enhancing the security of supply on three continents and to meet increasing demand for diphenol inhibitors used as additives by the monomer industry. This capacity expansion at its plant in Saint-Fons, France is accomplished by ... more

    BASF moves forward in acquisition of Solvay's polyamide business

    In September 2017, BASF and Solvay agreed that BASF would acquire Solvay’s polyamide business subject to approval of the relevant merger control authorities. The approval process of the EU Commission is ongoing. To meet the concerns of the EU Commission, BASF has offered to refrain from acq ... more

  • Companies


    Worldwide, the Solvay presence, notably in terms of sales and marketing, is ensured through regional organisations like national offices, affiliates, subsidiaries, … as well as local agents in the countries where Solvay doesn’t have its own organisation. Solvay chemicals in smaller volumes ... more

    Solvay SA

    SOLVAY is an international chemical and pharmaceutical Group with headquarters in Brussels. It employs some 29,000 people in 50 countries. In 2006, its consolidated sales amounted to EUR 9.4 billion, generated by its three sectors of activity: Chemicals, Plastics and Pharmaceuticals. So ... more

    Solvay (Schweiz) AG


More about Rhodia