| UPDATE | 13.08.03 |
| BUSINESS ACQUISITIONS | Private equity capital firm NIB Capital Private Equity (Amsterdam) has agreed to acquire UCB's methylamines and derivatives business for 115 million [euro] ($129 million). UCB signed an agreement last year to sell the methylamines operation to private equity firms Morgan Stanley Capital Partners (New York) and Sorgenti Investment Partners (Philadelphia), but that deal fell through (CW, Sept. 11, 2002, p. 27). The sale to NIB is expected to close on September 30, UCB says. The business has production at Ghent, Belgium; Leuna, Germany; and Fengxian, China, and generates sales of 186 million/year [euro]. |
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