# Arkema to acquire majority stake in PI Advanced Materials for €728M

French chemicals group Arkema announced the proposed acquisition of a 54% stake in South Korean PI Advanced Materials (PIAM) from Glenwood Private Equity for 728 million euros. The deal is expected to close in the second half of 2023.

- Type: Acquisition
- Announced: 2023-06-28
- Where: South Korea, South Korea
- Value: $797.2M (728.0M EUR)
- Status: announced
- Products: polyimide films
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [Arkema](https://endata.com/companies/7031.md) (acquirer)
- [Glenwood Private Equity](https://endata.com/companies/20593.md) (investor)
- [Glenwood Private Equity](https://endata.com/companies/20593.md) (partner)
- [PI Advanced Materials](https://endata.com/companies/57676.md) (target)

## Sources

- [reuters.com](https://www.reuters.com/markets/deals/frances-arkema-buy-skorean-company-piam-728-mln-euros-2023-06-28/), 2023-06-28: "French chemicals group Arkema announced on Wednesday a proposed acquisition of a majority stake in South Korean company PI Advanced Materials (PIAM) for 728 million euros."
- [arkema.com](https://www.arkema.com/global/en/media/newslist/news/global/corporate/2023/20230626-arkema-acquisition-controlling-stake-piam/), 2023-06-28: "This acquisition is fully aligned with our strategy to be at the forefront of high performance materials for high growth end markets."
- [asia.nikkei.com](https://asia.nikkei.com/business/business-deals/south-korea-s-pi-advanced-materials-to-be-sold-to-france-s-arkema-for-760m), 2023-06-29: "PI Advanced Materials, a South Korean manufacturer of high-performance plastics used in components for consumer electronics and electric vehicles, will go under the umbrella of French chemicals group Arkema."
- [coatingsworld.com](https://www.coatingsworld.com/breaking-news/arkema-to-purchase-controlling-stake-in-pi-advanced-materials/), 2023-07-01: "This acquisition is fully aligned with our strategy to be at the forefront of high-performance materials for high growth end markets supported by megatrends such as electric vehicles and advanced electronics."
- [canplastics.com](https://www.canplastics.com/automotive/arkema-buys-south-koreas-pi-advanced-materials/1003461554/), 2023-07-14: "This acquisition is fully aligned with our strategy to be at the forefront of high-performance materials for high-growth end markets supported by megatrends such as electric vehicles and advanced electronics."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.