EU BASIC INDUSTRIES: Syensqo: Divestment (SYENS; Baa1/BBB+/NR)
Oct-31 08:37
Not a credit mover.
• Divestment of Oil & Gas unit for €135m 7x EV/EBITDA
• Represented €400m or 6% of sales.
• The statement says that the company can now focus on its core competencies.
• No mention of use of proceeds.
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