The leading chemical products manufacturer Huntsman Corporation signed an agreement with SK Capital Partners, LP to sell approximately 42.5 million of the shares it holds in Venator Materials PLC for approximately $100 million.
- The agreement includs a 30-month option for the sale of the remaining approximate 9.5 million shares it holds at $2.15 per share.
- The transaction is subject to regulatory approvals and is expected to close near year-end.
The major deals and expansions by Huntsman Corporation are featured below:
March 2020: Huntsman Corporation announced an agreement to acquire CVC Thermoset Specialties, a North American specialty chemical manufacturer for $300 million. CVC Thermoset, part of Emerald Performance Materials LLC, is serving industrial composites, adhesives and coatings markets across the world.
The deal with CVC Thermoset Specialties brings valuable complementary technology to Huntsmans Advanced Materials portfolio and the merger will make epoxy-based materials even tougher, stronger, and more durable. CVC Thermoset Specialties has two manufacturing facilities located in Akron, Ohio, and Maple Shade, New Jersey.
December 2019: Huntsman Corporation, had completed the sale of its chemical intermediates businesses, which includes PO/MTBE, and its surfactant businesses to Indorama Ventures for approximately $2 billion. With this acquisition, Indorama has enhanced its US footprint in polyurethanes segments.
The transaction includes manufacturing operations in Texas, Australia, and India. Huntsman will retain ownership of a diglycolamine, or DGA, plant at Port Neches, the USA. The deal also includes Huntsmans linear alkyl-benzene (LAB) manufacturing site at the Chocolate Bayou site south of Houston and a surfactants plant in Dayton, Texas.
About Huntsman Corporation
Huntsman Corporation, a Texas-based manufacturer of differentiated and specialty chemicals. The company manufactures polyurethanes, performance products, and adhesives for a broad and diverse range of consumer and industrial end markets. The company operates approximately 75 manufacturing, R&D, and operations facilities in around 30 countries and employs approximately 10,000 associates within our four distinct business divisions. The company serves a broad and diverse range of consumers, including transportation, home life, construction, energy and fuels, and clothing and footwear.