Belgian chemical and pharmaceutical company Solvay SA (SOLB.BT) is unlikely to announce any new acquisition before closing the sale of its pharma business to Abbott Laboratories (ABT), its chief executive said Monday.

"Don't expect anything before the closing," Christian Jourquin said during a press conference where he presented the sale of the pharma business, announced earlier Monday. The company won't spend money it doesn't have, he said.

Brussels-based Solvay expects to close the sale by the first quarter of 2010, and won't change its capital expenditure plans for next year, Jourquin said.

-By Alessandro Torello, Dow Jones Newswires; +32 2 741 14 88; alessandro.torello@dowjones.com