According to the company’s website press release on March 24, 2023, Solvay announces the completion of the sale of its 50% stake in the RusVinyl joint venture to its joint venture partner Sibur.
At the time of closing, Solvay received €433 million in cash proceeds in Belgium which will be reported in the first quarter as cash flow from investing activities (Consolidated statement of cash flows). A capital loss of €174 million will be recognized in the first quarter of 2023, mainly reflecting the crystallization of historic currency translation balances.
