VANCOUVER, July 20 /CNW/ - Acetex Corporation announced that effective today, HNA Acquisition Inc., a subsidiary of Celanese Corporation, acquired 100% of the issued and outstanding common shares of Acetex Corporation for the price of C$9.00 per share and an amount for each warrant and option equal to C$9.00 less the exercise price thereof, subject to a minimum of one cent per option. "I would like to take this opportunity to thank the employees of Acetex for their diligence, professionalism and perseverance over the past 10 years in strengthening and growing Acetex," said Brooke N. Wade, Chairman and Chief Executive Officer of Acetex Corporation. "On behalf of the shareholders and Board of Directors, I wish them well as they become part of Celanese Corporation, an exceptional company that will provide even more opportunity for challenge and growth. I would particularly like to thank the employees, shareholders and our Saudi joint venture partners for the patience demonstrated during the regulatory review period and subsequent successful consummation of the transaction." The transaction was effected by way of a statutory plan of arrangement under the Business Corporations Act (Alberta) and was completed following the required approval of the holders of Acetex shares, options and warrants, interim and final orders of the Court of Queen's Bench of Alberta and other regulatory approvals.