Arkema announces a project to acquire Glenwood Private Equity's 54% stake in the South Korean listed company PI Advanced Materials (PIAM), for an enterprise value of 728 million euros.

With sales of over 200 million euros and an EBITDA margin of around 30%, PIAM is the world leader in polyimide films, with strong growth in the attractive consumer electronics and electric vehicle markets.

Entirely financed in cash, the transaction marks a new stage in Arkema's transformation into a pure player in specialty materials. Subject to the approval of the Chinese and Korean competition authorities, it should be finalized by the end of 2023.

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