Rhodia have just completed the divestiture of its interest in Rhodia-ster. They have sold their entire 88.4% share to the Italian company Gruppo Mossi & Ghisolfi. The sale has yielded a debt reduction of approximately 190 million Euros.
The divestment of Rhodia-ster is consistent with the company’s plan to divest non-core businesses and has achieved a large portion of its goal to divest 500 million Euros worth of assets.
Rhodia-ster is the largest producer of polyester fibre products and PET resin in Brazil and South America. Its divestiture also marks the exit of Rhodia form the polyester market.
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