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, comprising a cash purchase price of approximately $1.93 billion.
Acquisition of Huntsman’s Manufacturing Facilities
It includes estimated adjustments to the purchase price for working capital, plus 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.
Under the terms of the agreement, Indorama Ventures is acquiring Huntsman’s manufacturing facilities located in Port Neches, Texas; Dayton, Texas; Chocolate Bayou, Texas; Ankleshwar, India; and Botany, Australia.
Source: Huntsman