Bain sells JV interest in two Chinese chemicals companies
Bain Capital has exited its stake in Chinese companies Hipro Polymers and Casda Biomaterials to Arkema, France’s leading chemicals producer. The acquisition, which puts an enterprise value of $365 million on both companies, is subject to Chinese regulatory approval and is expected to be finalized in early 2012.
Hipro and Casda are predominantly owned by a joint venture between Bain and Feixiang Chemicals, a Chinese chemicals company. They reported aggregate sales of $230 million for 2011 and employ 750 people...
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