Chemtura amends sales terms for antioxidant, UV stabilisers unit

25 January 2013 22:50  [Source: ICIS news]

HOUSTON (ICIS)--Chemtura has amended the terms of the sale of its antioxidant and UV stabilisers business to SK Capital, the US-based specialty chemicals producer said on Friday.

The new terms now call for $97m (€73m) of cash to be paid at closing; the receipt of $9m in preferred stock; and the assumption of $93m worth pension, environmental and other liabilities, Chemtura said.

The sale is expected to close in the first quarter, the company said.

Chemtura initially announced the sale in November. At that time, it said the sales price was $200m.

SK Capital and First Reserve recently completed the acquisition of TPC Group, a US-based producer of butadiene (BD).

($1 = €0.75)

By: Al Greenwood
+1 713 525 2645

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