PI Advanced Materials will be sold to the French chemical group Arkema for 1 trillion won.
On the 28th, PI Advanced Materials announced that Korea PI Holdings signed a stock purchase agreement to sell 54.09% (15,877,400 shares) of its stake in PI Advanced Materials to Arkema Korea Holdings. The sale price is 1 trillion won. The expected closing date of the transaction is March 31 of next year.
PI Advanced Materials is the market leader in polyimide (PI) film. Korea PI Holdings is a special purpose company (SPC) established by Glenwood PE, a domestic private equity firm, to acquire PI Advanced Materials.
The Arkema Group is a global company ranked among the top three chemical companies worldwide alongside BASF and Dow. It produces specialty chemical materials.
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