Solvay Buys Rhodia in $4.8 Billion Specialty Chemicals Move

Solvay SA, the Belgian soda ash maker which sold a drugs unit a year ago, agreed to buy Rhodia SA of France for 3.4 billion-euro ($4.8 billion) in cash to add specialty chemicals spanning ingredients for moisturizers and car-part polymers.

Shareholders of the Paris-based company will receive 31.6 euros a share, 50 percent more than Rhodia’s closing price on April 1, Solvay said in a statement today. Including debt, the deal has an enterprise value of 6.6 billion euros.