Chemical Week

CE Oil & Gas and Sibur Take Control of BorsodChem.(Brief Article)(Statistical Data Included)

PRIVATE EQUITY CAPITAL GROUP CE OIL & Gas (CEOG; Vienna) has increased its stake in polyvinyl chloride (PVC) and polyurerhanes producer BorsodChem (Kazincbarcika, Hungary) by 43.17%, to 59.3%, after its public offer for BorsodChem shares valued at HF27.7 billion ($100 million) had been accepted by shareholders (CW June 20, p. 6). Hungary's competition office says it plans to launch an investigation into CEOG's takeover.

Sibur, the chemicals arm of Gazprom (Moscow), holds 24.8% of BorsodChem; the remaining shares are traded on the Budapest Stock Exchange.

The takeover will bring to an end uncertainty that has shrouded BorsodChem since last year when CEOG and …

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