Home / Knowledge / News / Textiles / La Seda De mulls integrating operations with Indorama
La Seda De mulls integrating operations with Indorama
04
Aug '08
On July 24th, this Committee was informed that there had been contacts with Indorama Ventures Limited in connection with a plausible study of a potential integration transaction of both groups.

By way of clarification and extension of information for shareholders and investors, it is highlighted that both groups consider that an integration of their operations and consolidation of the global market for PET-PTA, will benefit shareholders of both groups, in acquiring the necessary size and global presence.

It has been agreed to initiate a process of exchanging information between the two groups to make progress in analyzing the possible operation to be performed.

The design of the operation, its legal structure in relation to the assets that would eventually be included, are areas where there is still no clear option.

Regarding the financial structure of the transaction, is being defined, though it will not involve any disbursement by the current shareholders of La Seda, since it is expected that an operation be a full exchange of shares. Nor it is defined the overall financing of the group.

This transaction is subject to intervention by market authorities, competition, contractual commitments of funding, and so on. Any transaction will be conditioned to the strict compliance of the necessary permits and approvals in this respect, including audits and independent valuations.

The partner is the company Indorama Ventures Ltd. However it is not defined what subsidiaries / activities will come into operation, which could include the listed Indorama Polymers Ltd.

In due course, once there is a specific operation, La Seda will communicate it appropriately and submit it for approval by the general shareholders meeting.

We want to show that this type of operation, by nature, require a long process of structuring realization, while it also implies uncertainty about its success.

The two axes that are being pursued with this operation are creating greater value for share and a worldwide project, that would allow to operate globally.

LA SEDA DE BARCELONA S.A.


Must ReadView All

VF Corporation to split into two independent companies

Apparel/Garments | On 14th Aug 2018

VF Corporation to split into two independent companies

VF Corporation, a global leader in branded lifestyle apparel,...

Courtesy: Good On You

Apparel/Garments | On 14th Aug 2018

Good On You in Oz adds 500 European brands to rating app

Australia-based Good On You’s brand-rating app has recently added 500 ...

Courtesy: USDA/FAS

Textiles | On 14th Aug 2018

US cotton exports in 2017-18 highest in over a decade

Cotton exports from the US in 2017-18 reached their highest level...

Interviews View All

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Top executives
Indian retail players

Walmart's acquisition of Flipkart endorses the humongous opportunities in...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Umang Banthia

Established in 2005, SL Banthia Textiles manufactures coated fabrics....

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Johan Berlin
Investkonsult Sweden AB

Investkonsult Sweden AB are consultants in the nonwoven and absorbent...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


August 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search