Ciech buys Spanish Proplan for €44.6 mln

WSE-listed chemicals group Ciech has bought 100 percent stake in the Spanish Proplan Plant Protection Company. The deal value is €44.6 million. €4.5 million will be paid in equal installments during the period of 2019-2022. The current agreement to buy all Proplan shares replaced the previous agreement from May 28 to buy 75 percent stake in Proplan for €33.5 million. Proplan operates on the European market, mainly in Spain as well as in Australia and Africa. It manufactures plant protection chemicals and had €16 million revenues last year.