Huntsman Completes Sale of its Chemical Intermediates and Surfactants Businesses

Huntsman Corporation has completed the sale of its chemical intermediates businesses, which includes PO/MTBE, and its surfactants businesses to Indorama Ventures in a transaction valued at approximately $2 billion. The transaction comprises a cash purchase price of approximately $1.93 billion, which includes estimated adjustments to the purchase price for working capital, along with the transfer of up to approximately $76 million in net underfunded pension and other post-employment benefit liabilities.

The final purchase price is subject to customary post-closing adjustments. The net cash proceeds are expected to be just under $1.6 billion.

“This transformational transaction significantly reduces our capital-intensive upstream asset base, further bolsters our already strong balance sheet and allows us to further invest in and grow our downstream businesses,” said Peter Huntsman, chairman, president and CEO. “We are committed to retaining our investment-grade balance sheet and our continued balanced approach to capital allocation. This transaction greatly expands our flexibility and opportunity for select strategic and accretive acquisitions, as well as for expansions in our core downstream global footprint, and continued opportunistic repurchases of our shares. We remain disciplined and focused on the creation of long-term shareholder value.”

The post Huntsman Completes Sale of its Chemical Intermediates and Surfactants Businesses appeared first on American Coatings Association.

from American Coatings Association https://www.paint.org/huntsman-completes-sale-of-its-chemical-intermediates-and-surfactants-businesses/
via IFTTT

Author: Fast n Clean Painters

Fast n Clean Painters offers superior painting services. Our experienced painting contractors are passionate about what they do and pay close attention to detail. Our services are personal and our goal is to go above and beyond our customer’s expectations. We treat your home or business as if it was our own!

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s