Petroflex to become wholly owned subsidiary of Lanxess

ERJ staff report (RD)

Leverkusen, Germany – Following Lanxess AG’s tender offer for the remaining shares of Petroflex SA in Brazil, it has acquired a further 27 percent of shares, giving it a total interest of around 97 percent in the company, Lanxess said 17 Oct.

The company paid around Euro 60 million for the 27 percent of shares which means the company can “acquire all remaining shares by way of a squeeze-out and thus become the sole owner of Petroflex,” Lanxess said.

“I’m pleased…

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