SOLVAC : fully supports Solvay's proposed acquisition of Cytec

Brussels, 29 July 2015. Solvay has announced today that it has entered into a definitive merger agreement with U.S.-based Cytec to acquire 100% of its share capital for $75.25 per share in cash. The total cash consideration will amount to $5.5 billion, corresponding to an enterprise value of $6.4 billion. Furthermore, Solvay has arranged bridge financing and stated that it intends to fund the acquisition through a €1.5 billion rights issue, €1.0 billion of additional hybrid instruments and a senior debt issuance, consistent with its commitment to preserving an investment grade credit rating and continuing its long-standing policy of dividend growth.

Solvac's board of directors has unanimously confirmed its support of the proposed acquisition which will enable Solvay to take another significant step to upgrade its portfolio, in line with its strategic focus on high growth and high value-added businesses, underpinning long-term value creation and dividend growth. Solvac intends to vote in favour of Solvay's capital increase and to fully exercise its rights to subscribe for new shares of Solvay so as to maintain its current 30.2 per cent shareholding in Solvay.  Solvac has arranged bridge financing to participate in the capital increase of Solvay with full flexibility.

For its permanent financing structure, Solvac intends to predominantly fund its participation in Solvay's capital increase by an increase of its own share capital. Further information on the contemplated share capital increase will be communicated in due time.For more information, please contact:

SOLVAC S.A.

Investor Relations

Rue des Champs Elysées, 43 - 1050 Brussels

Tel.: 32/2/639 66 30

Fax: 32/2/639 66 31

Email: Investor.relations@solvac.be:
mailto:Investor.relations@solvac.be

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