Industry News

Dynea Signs Agreement to Divest its Shares of Norway-based Dynea AS to Eltek Holding AS

Published on 2013-07-03. Author : SpecialChem

Dynea Chemicals Oy has signed a share purchase agreement for the sale of 100% of the shares of Norway-based Dynea AS to a newly founded legal entity representing Eltek Holding AS.

The sale of Dynea's 100% shareholding in Dynea AS includes 100% of the shares in Dynea Hungary Kft, 50% of the shares in Nordalim A/S, and 34.5% of the shares in Krystal AS, as well as 33.3% of the shares in Borzod Chem-Krems Chemie Formalin Kft, owned by Dynea Hungary Kft. The completion of the transaction is subject to the approval by the Norwegian competition authorities.

Dynea AS focuses on speciality wood adhesives for the European market. Commenting on the signing of the sales agreement, Dynea President and CEO Hans Pettersson says: "The sale of Dynea AS is in line with Dynea's strategy of concentrating its resources around its phenolic resin activities."

About Dynea

Dynea is an international provider of superior adhesion and surfacing solutions is owned by the IK Funds advised by IK Investment Partners, a leading European private equity company. Today, Dynea has 12 plants in 10 countries in Europe.

Source: Dynea

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