CHEMTURA : Amends Terms of Sale of its Antioxidant and UV Stabilizers Business to SK Capital Partners
01/25/2013| 05:05pm US/Eastern
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Regulatory News:
Chemtura Corporation (NYSE/EuroNext Paris: CHMT) today announced it has
entered into an amended and restated asset purchase and contribution
agreement with an affiliate of SK Capital Partners for the sale of its
Antioxidant and UV Stabilizers business for $200 million. The terms now
provide for approximately $97 million of cash payable at closing, the
receipt of $9 million in preferred stock and the assumption of pension,
environmental and other liabilities totaling approximately $93 million.
The purchase price is subject to a post-closing net working capital
adjustment. The transaction remains subject to customary closing
conditions and is expected to close in the first quarter of 2013.
SK Capital is a leading investment firm with a disciplined focus on the
specialty materials, chemicals and healthcare sectors. Their current
portfolio generates over $6 billion in revenues and employs in excess of
4,000 people.
Chemtura Corporation, with 2011 sales of $3 billion, is a global
manufacturer and marketer of specialty chemicals, agro chemicals, and
pool, spa and home care products. Additional information concerning
Chemtura is available at www.chemtura.com.
Chemtura
Investors:
Dalip Puri, 203-573-2153
Vice
President, Investor Relations and Treasurer
or
Media:
John
Gustavsen, 203-573-3224
Manager, Corporate Communications
© Business Wire 2013
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