Evonik Industries AG has acquired the remaining 49 percent of its former joint venture Degussa Lynchem Co. Ltd., Dalian, China, from the Chinese shareholders Yuncai Wang and Jingkun Wang. By this transaction Degussa Lynchem has become a wholly owned subsidiary of Evonik. The shares are held through Evonik Degussa China Co. Ltd. Financial details of the acquisition have not been disclosed. The transaction is subject to the approval of government authorities, which is expected to be received by end of March.
Evonik Acquires Remaining Shares of Chinese Degussa Lynchem
| By Dorothy Lozowski