COLOMBES, France—Arkema S.A. finalized the acquisition of Bostik S.A. from Total S.A. on Feb. 2, bringing what it says is the world's No. 3 adhesives provider into its portfolio.
Arkema said it financed the acquisition in three phases, totaling about $2 billion. It first had a hybrid bond issue of about $800 million in October and then conducted a share capital increase of about $400 million in December. Finally, it conducted another bond issue of about $800 million with a 1.5 percent coupon.
Bostik will constitute a new business unit—Specialty Adhesives—within Arkema's High Performance Materials segment. Bostik's former CEO, Bernard Pinatel, has been appointed to Arkema's executive committee and will succeed Pierre Chanoine, who is retiring.