The Belgian group will finance the transaction with a 1.5 billion euros ($1.66 billion) rights issue, 1.0 billion euros of hybrid debt instruments and a senior debt issue.
However, market-watchers have questioned whether the Belgium firm is paying too much for the Cytec deal, however Clamadieu remained positive that it would be worth it.
"We think that we are paying a significant (multiple), because we think that the growth opportunities at Cytec are very significant."
"This is a great opportunity for us to get a position in a market that we consider very attractive for a chemical company like ours, who are developing specialty materials."
Solvay also announced its second quarter results on Wednesday. Core profit, adjusted for one-off items rose 8.1 percent in the second quarter to 500 million euros, in line with the 499 million expected in a Reuters poll of seven analysts.
The company said its speciality materials and chemicals businesses gained, but demand declined substantially for chemicals used in the oil and gas sector.
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