Issue Date: January 7, 2008
... As Spanish Business Changes Hands
Barcelona-based La Seda has acquired Interquisa, a subsidiary of the Spanish oil company Cepsa, in a deal valued at roughly $760 million. La Seda's purchase involves Spanish plants for purified terephthalic acid (PTA) and purified isophthalic acid (PIA), both raw materials for polyethylene terephthalate; a PTA plant in Canada; and PTA and PIA technology. La Seda says the purchase helps implement its corporate strategy of vertical integration. As part of the deal, Cepsa will take a 12% stake in La Seda.
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