Bain Capital sells two Chinese chemical companies

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    French chemical company Arkema will purchase two Chinese portfolio companies from Bain Capital for US$365 million. The companies are Zhangjiagang-based…

    French chemical company Arkema will purchase two Chinese portfolio companies from Bain Capital for US$365 million. The companies are Zhangjiagang-based Hipro Polymers and Hengshui-based Casda Biomaterials. Both are predominantly owned by a joint venture between private Chinese chemical company Feixiang Chemicals and Bain Capital.

    The deal closing is subject to PRC government approvals and is expected to be completed in early 2012.

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