Yule Catto snaps up PolymerLatex

Tuesday 14 December 2010 01:00 GMT

Your support helps us to tell the story

From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.

At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.

Your support makes all the difference.

Speciality chemicals maker Yule Catto is spending €157m (£132m) to acquire Germany's PolymerLatex from London-based private equity group TowerBrook Capital Partners.

The deal includes taking on €286m in the target's debts, and Yule Catto will fund the scheme with a four-for-three rights issue aimed at raising £225m.

The FTSE 250-listed group has also negotiated new credit facilities, including a three-year loan of £150m, denominated in euros, and a multi-currency facility worth £60m.

The deal is a bid to expand Yule Catto's business in Europe and Asia, boosted by PolymerLatex's factories in Germany, Italy and Malaysia.

Yule Catto's shares closed up by 11.54 per cent.

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Stay up to date with notifications from The Independent

Thank you for registering

Yule Catto snaps up PolymerLatex

Join our commenting forum

Thank you for registering