December 30, 2019 / 8:49 AM / a month ago

Silicone-maker Elkem buys China's Polysil in all-share deal

OSLO, Dec 30 (Reuters) - Norway-based Elkem, a supplier of silicone materials, has agreed to acquire Polysil, a Chinese maker of silicone elastomer and resins, in an all-share deal valuing it at 941 million yuan ($134.66 million), Elkem said on Monday.

Elkem, which is majority-controlled by China’s Bluestar, said the deal is expected to close in the first quarter of 2020. ($1 = 6.9879 Chinese yuan renminbi) (Reporting by Gwladys Fouche, editing by Louise Heavens)

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