05.25
Bluestar is a company largely owned by ChemChina a Chinese SOE, has reached an agreement with a company which is a conglomerate Orkla Norway. In the agreement, Bluestar will buy the business unit that consists of Elkem Elkem Silicon Materials, Elkem Foundry Products, Elkem Carbon and Elkem Solar for a total price to $ 2 billion.
Bluestar is a large chemical manufacturer with total sales in 2010 reached USD 6 billion. ChemChina has 80 percent stocks and 20 percent owned by private equity firm Blakcstone Group. This acquisition adds a long list of successful acquisitions made after previous Bluestar acquired Adisseo, Rhodia's Silicones and an Australian company named Qenos.
With this acquisition of Elkem will be an important part of the Bluestar operation and the increasing competitiveness in the silicon industry. One of the units, which own many of Elkem Solar is known as a provider of efficient and environmentally friendly technology in solar-grade silicon.
In this transaction Bluestar appointed Royal Bank of Scotland as an adviser and Orkla appoint Moelis & Company as their adviser.
Bluestar is a large chemical manufacturer with total sales in 2010 reached USD 6 billion. ChemChina has 80 percent stocks and 20 percent owned by private equity firm Blakcstone Group. This acquisition adds a long list of successful acquisitions made after previous Bluestar acquired Adisseo, Rhodia's Silicones and an Australian company named Qenos.
With this acquisition of Elkem will be an important part of the Bluestar operation and the increasing competitiveness in the silicon industry. One of the units, which own many of Elkem Solar is known as a provider of efficient and environmentally friendly technology in solar-grade silicon.
In this transaction Bluestar appointed Royal Bank of Scotland as an adviser and Orkla appoint Moelis & Company as their adviser.
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