Solvay announced that it has notified today its friendly takeover bid on Rhodia to the European Commission, and this as part of the procedures aiming at the approval of the transaction by competition authorities.
The closing date for the offer will be published by the Autorité française des marchés financiers following receipt of approval from the European Commission. After setting the closing date by the Autorité française des marchés financiers, NYSE Euronext Paris will publish a release with the final calendar for the offer and for its settlement. This calendar will also be published in a joint press release of Solvay and Rhodia.
The French and English versions of the Solvay prospectus, including the terms for submitting Rhodia shares for the offer, the French and English versions of Rhodia's memorandum in response as well as the legal, financial and accounting disclosures for Solvay and Rhodia can be viewed on the dedicated pages of the websites of Solvay (www.solvay.com/OPARhodia) and Rhodia (www.rhodia.com) respectively.
SOLVAY is an international industrial Group active in Chemistry. It offers a broad range of products and solutions that contribute to improving quality of life. The Group is headquartered in Brussels and employs about 16,800 people in 40 countries. In 2010, its consolidated sales amounted to EUR 7.1 billion. Solvay is listed on the NYSE Euronext stock exchange in Brussels, Belgium (NYSE Euronext: SOLB.BE - Bloomberg: SOLB.BB - Reuters: SOLBt.BR). Details are available at www.solvay.com.