WAVIN : N.V. : Mexichem's public offer Wavin receives clearance from the European Commission

This is a joint press release by Mexichem, S.A.B. de C.V. and Wavin N.V. in accordance with Section 5:25i, paragraph 2 of the Dutch Financial Supervision Act (Wet op het financieel toezicht) in connection with the recommended public offer by Mexichem Soluciones Integrales Holding, S.A. de C.V., a direct subsidiary of Mexichem, S.A.B. de C.V., for all the issued and outstanding ordinary shares in the capital of Wavin N.V.

MEXICHEM'S PUBLIC OFFER FOR WAVIN RECEIVES CLEARANCE FROM EUROPEAN COMMISSION

Mexico City (Mexico) and Zwolle (The Netherlands), 4 June 2012 - Reference is made to the joint press release of Mexichem, S.A.B. de C.V. (Mexichem) and Wavin N.V. (Wavin) of 9 March 2012 in respect of the launch of the all cash public offer by Mexichem Soluciones Integrales Holding, S.A. de C.V. (the Offeror) for all the issued and outstanding ordinary shares with a nominal value of EUR 0.40 each in the capital of Wavin (the Shares) at an offer price of EUR 10.50 cum dividend for each Share (the Offer), to the joint press release of 8 May 2012 in which the Offeror declared the Offer unconditional (gestand heeft gedaan), and to the joint press release of 24 May 2012 in which the results of the Post Acceptance Period were announced.

Today, Mexichem and Wavin jointly announce that the European Commission has granted clearance on 4 June 2012 for the acquisition of Wavin by Mexichem. As a result thereof, the acquisition has been cleared by all relevant competition authorities. 

About Mexichem
Mexichem is a leader in plastic pipe systems and in the chemical and petrochemical industry in Latin America, with more than 50 years of experience in the region and 33 years on the Mexican Stock Exchange with a market capitalisation of approximately EUR 5.0 billion¹. Mexichem, which exports to more than 50 countries, and has presence in Latin America, North America, Europe and Asia, has an annual turnover of approximately EUR 2.8 billion² and EBITDA of approximately EUR 594 million². With more than 10,000 employees throughout virtually the entire American continent, UK and Japan, the company has the largest fluorspar mine in the world and is the only fully integrated coolant gas producer in America. It is also the largest producer of PVC resin in Latin America and contributes actively to the development of the countries through products that have a wide market in the most dynamic growth sectors including construction, housing, drinking water, and urban sewage in Mexico, the United States, UK, Japan and Latin America. More details about Mexichem can be found at www.mexichem.com:
http://www.mexichem.com/.

About Wavin
Wavin is the leading supplier of plastic pipe systems and solutions in Europe. The company provides essentials: plastic pipe systems and solutions for tap water, surface heating and cooling, soil and waste, rain- and storm water, distribution of drinking water and gas and telecom applications. Wavin is headquartered in Zwolle (The Netherlands) and has a presence in 25 European countries. The company employs approximately 6,000 people and reported revenue of approximately EUR 1.3 billion for 2011. Outside Europe, it has a global network of agents, licensees and distributors. Wavin is listed on the NYSE Amsterdam stock exchange (WAVIN). More details about Wavin can be found at www.wavin.com.

¹      Based on market data from FactSet as at 1 June 2012. MXN:EUR exchange rate of 17.60.
²   Unaudited financials based on Mexichem full year 2011 results announced on 21 February 2012. MXN:EUR average exchange rate during 2011 of 17.29 from FactSet.