Sojitz to establish European Base in Chemicals with Acquisition of Solvodis
Japanese conglomerate Sojitz Corporation (Tokyo, Japan) earlier this week announced that the group has signed an agreement to buy 100% of the shares of solvadis holding S.à r.l. (Luxembourg, Luxembourg) from Special Situations Venture Partners 2 (SSVP 2). The fund is exclusively advised by Orlando Management AG (Munich), the statement said.
Going back to 1881, solvadis operates sales offices and logistics centers throughout Europe, mostly ocated in Germany. The company is active in the sales of basic chemicals such as Sulphur, Sulphuric Acid, and in particular, Methanol, of which it handles more than 1 million metric tons p.a. The company owns chemical tanks and other logistics facilities at the heart of Europe’s industrial area along the Rhine river.
Sojitz Group produces and sells Methanol in the Asia region, with sales of more than 1 million metric tons p.a. Through this acquisition, Sojitz “aims to expand its annual trading volume to more than 2 million metric tons and enlarge the company’s position as a global player within the methanol industry.”
No financial details were published on the transaction, which is subject to regulatory approvals.
Source: Sojitz press release
HGE – DCG / 24.02.2017