16 September 2013 19:16 [Source: ICIS news]
HOUSTON (ICIS)--US-based pigment producer Huntsman is in talks to buy Rockwood Holding's titanium dioxide (TiO2) business, Reuters reported on Monday.
One of the three sources for the Reuters story said the deal could be signed in the next few days, with the sale valued at $1bn-1.2bn (€750m-900m), the report said.
Huntsman and Rockwood did not immediately respond to requests for comment.
Rockwood has said that it planned to sell the business by the end of this year.
Huntsman has not been as specific about plans for its pigment business.
Earlier this year, CEO Peter Huntsman said the company had been considering some sort of action that would result in consolidation of the market − without specifying whether Huntsman would be a buyer or a seller in such a deal.
Some possible scenarios for the business include merging it, selling it or combining it with another business and spinning it off, Huntsman said.
"There are multiple options here," he said.
In addition to Rockwood, DuPont is considering the sale of its TiO2 business.
($1 = €0.75)
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