UCB Closes Sale of Surface Specialities Division

UCB have announced the closing of sale of its Surface Specialties business to Cytec Industries Inc. a global technology leader in specialty chemicals and specialty materials, which occurs in just 5 months after the transaction was announced.

The transaction amount is € 1,415 million of which € 1,190 million in cash and € 225 million in shares of Cytec.

Roch Doliveux, Chairman of the Executive Committee of UCB said: "I would like to pay tribute to everyone involved with “Surface Specialties” for their skill and dedication and to thank them for their contribution to UCB. We wish them well as part of Cytec.” This sale concludes a number of strategic moves initiated with the acquisition of Celltech last May, aimed at transforming UCB into a leading biopharmaceutical company.

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