AXA Private Equity Carves Out Rhodia's Aspirin Unit

Law360, New York (November 2, 2011, 2:36 PM EDT) -- AXA Private Equity, the international buyout arm of French insurer AXA Group, has acquired Rhodia SA's aspirin and salicylic acid unit through a pharmaceutical subsidiary to build its chemical holdings, the firm said Wednesday.

The carved-out units will become Novacyl, a new company within Novacap, the chemical conglomerate AXA bought from Boston-based private equity firm Bain Capital LLC earlier this year. AXA said Novacyl will have annual revenues of €100 million ($137 million), making it the world's biggest producer of aspirin and salicylic acid, which are...
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