Solutia reaches “definitive agreement” over Flexsys purchase

St Louis, Minnesota – Solutia Inc. “has reached a definitive agreement to purchase Akzo Nobel N.V.’s stake in Flexsys, the 50 -50 rubber chemicals joint venture between Akzo Nobel and Solutia.”

Solutia, which is still under Chapter 11 bankruptcy protection in the US, requires approval from the the United States Bankruptcy Court before the deal can go through. The two parties said they are moving toward that approval.

Prior to that, however, the two companies need to strike a deal with Dutch employee works…

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