Glenwood sells Korean films business to French strategic
Glenwood Private Equity has sold its majority stake in Korea-based industrial films producer PI Advanced Materials to France-headquartered Arkema for an enterprise value of EUR 728m (USD 817m) – six months after BPEA EQT pulled out of a deal to buy the asset.
Glenwood acquired a 54% stake in PI Advanced in 2020 for USD 512m. The company was established in 2008 as a joint venture between SKC, a chemicals-focused subsidiary of SK Group, and Kolon Industries....
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