Armen Sargsyan’s S8 Capital holding company has agreed to buy the Russian business of US chemical company Huntsman. The latter has a plant in Obninsk, writes Kommersant.
The deal closed in 2023, but has not yet received regulatory approval. Its amount could amount to between 2.1 and 2.5 billion rubles, analysts estimate.
The FAS noted that the purchase will not restrict competition in the market for wholesale trade in chemicals and production of paints and varnishes.
S8 Capital is a diversified holding company of Armen Sargsyan. Until February 2022, the main asset in the portfolio was the state lottery distributor Stoloto.
The holding’s portfolio expanded noticeably last year: S8 has already become one of the largest tire manufacturers in Russia with the acquisition of the factories that left the country of Continental and Bridgestone, as well as the Russian Cordiant, and began to produce automotive components by purchasing a number of local Bosch assets.
Author:
Karina Pardaeva
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
