• Proposed acquisition of Bostik, number 3 worldwide in adhesives and part of Total's specialty chemicals
• New milestone in Arkema's transformation in line with the Group's strategy
- Reinforcing Arkema's profile with the integration of a low cyclical and low capital-intensive activity with sales of €1.53 billion
- Strategic priorities well aligned: innovation, expansion in emerging countries and operational excellence
• High value creating project
- Significant potential for improving Bostik's operating margin
- Well identified synergies
- Cash flow accretive from first full year and EPS accretive from second year
- Execution facilitated thanks to common culture
• Offer made on basis of €1.74 billion enterprise value (11 times EBITDA)
• A fully secured funding
Quote of Thierry Le Hénaff
"Since 2006 Arkema has carried through a successful in-depth transformation of its business portfolio with the aim of becoming a world leader in specialty chemicals. The proposed acquisition of Bostik represents a new major milestone towards this ambition.
The complementarities between the two companies, the quality of Bostik's management and teams, the common roots within the Total group, and the brands and technologies are all factors that will sustain value creation for our shareholders and ensure successful execution of the project.
For Arkema, this new exciting challenge complements the ambitious plan currently in progress to establish acrylics and thiochemicals in Asia through the Jurong and Kerteh projects, restore the profitability of fluorogases, carry through its €100 million savings plan announced recently, and realize the strong growth prospects in the attractive oil and gas segment."