Croda sells oleochemicals business for £46.7m

08 May 2008 10:27  [Source: ICIS news]

LONDON (ICIS news)--Croda International is to sell its oleochemicals business in Chicago, US, to HIG Capital for £46.7m ($93.4m/€60.7m), the UK specialty chemical company said on Thursday.

 

“This disposal is part of Croda’s restructuring programme to re-position its oleochemical operations following the acquisition of Uniqema in 2006,” the company added in a statement.

 

Completion of the sale to HIG, a private equity investment firm, is subject anti-trust clearance, it said.

 

“All employees of the business will transfer to the acquiring entity as a result of this transaction. Croda will continue to source some products from the business under normal third party commercial terms,” it said.

 

($1=€0.65/£0.50)

By: Lucy Craymer
+44 20 8652 3214

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