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Solvay S.A.: Solvay continues its transformation with the sale of its cellulose acetate tow business

Brussels, December 7, 2016 --- Solvay has reached an agreement to sell its
cellulose acetate tow business, Acetow, to private equity funds managed by

"The divestment of Acetow is another significant step in Solvay's
transformation towards a multi-specialty chemical group with a higher growth
said Jean-Pierre Clamadieu, CEO of Solvay.

The transaction is based on an enterprise value of about € 1 billion,
representing around 7 x EBITDA multiple. The net proceeds will contribute to
the continued deleveraging of Solvay. Solvay expects to generate a capital
gain of around € 150 million after tax.

Completion of the transaction is expected in the first half of 2017 and is
subject to the customary social procedures and approval by the relevant
antitrust authorities.

*In view of the materiality of the transaction, Solvay will consider the
business to be discontinued and will restate its results in accordance with
IFRS. Historic, restated results will be published by the end of January

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| An international chemical and advanced materials company, Solvay assists its |
|customers in innovating, developing and delivering high-value, sustainable |
|products and solutions which consume less energy and reduce CO2 emissions, |
|optimize the use of resources and improve the quality of life. Solvay serves |
|diversified global end markets, including automotive and aerospace, consumer |
|goods and healthcare, energy and environment, electricity and electronics, |
|building and construction as well as industrial applications. Solvay is |
|headquartered in Brussels with about 30,900 employees spread across 53 |
|countries. It generated pro forma net sales of € 12.4 bn in 2015, with 90% |
|made from activities where it ranks among the world's top 3 players. Solvay |
|) is listed on Euronext in Brussels and Paris (Bloomberg: SOLB.BB |
| - Reuters:SOLB.BR |
|). |
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|Acetow |
|is a cellulose acetate tow leader in filtration applications in consumer goods |
|as well as in plastic and textile. Headquartered in Freiburg, Germany, Acetow |
|is a worldwide producer with five production sites and has almost a century |
|of experience in its core competence acetylation. Its innovation strategy is |
|based on improving its core business and diversification. |

| Caroline Jacobs Kimberly Stewart Jodi Allen Geoffroy Raskin Bisser Alexandrov |
| Media Relations Investor Relations Investor Relations Investor Relations Investor Relations |
|+32 2 264 1530 +32 2 264 3694 +1 9733573283 +32 2 264 1540 +32 2 264 3687 |
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To read this release in PDF

This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Solvay S.A. via Globenewswire

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