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Soros Private Equity Partners acquires PolymerLatex in transaction valued at E235m

Global private equity firm Soros Private Equity Partners, owned by billionaire George Soros, has bought latex producer PolymerLatex from Germany-based Bayer and Degussa AG in a transaction valued at E235m.

Soros said that it planned to develop PolymerLatex's operations and would also consider possible buy-and-build strategies.

PolymerLatex was founded as a joint venture by Degussa and Bayer in 1996 and generated sales of E344m in 2001.

Soros has benefited from the ongoing wave of divestment by large corporates of non-core business units. Bayer in particular launched a ‘group-wide reorganisation and strategic realignment project' in order to lighten its debt burden at the end of 2001. The sale of PolymerLatex completes the project.

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