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PROBLEM TO BE SOLVED : To obtain a rare earth metal compound such as a β-diketo acid ytterbium (III), suitable as a transesterification catalyst and having increased catalytic activity in comparison with prior arts.
SOLUTION : The β-diketo acid ytterbium (III) is obtained by reacting a ytterbium (III) salt, a 1, 3-diketone and a base, wherein the 1, 3-diketone of less than 3 equivalent weight based on the ytterbium (III) salt of 1 equivalent weight is used in the reaction, and the produced β-diketo acid ytterbium (III) is dried at a temperature of at least one of 45-150°C for more than 5 h.
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