logo
Plus   Neg
Share
Email

Huntsman To Sell Chemical Intermediates And Surfactants Businesses For $2.1 Bln

Huntsman Corp. (HUN) said that it agreed to sell its chemical intermediates businesses, which includes PO/MTBE, and its surfactants businesses to Indorama Ventures in a transaction valued at $2.076 billion. The transaction is is expected to close near year-end.

The deal comprised a cash purchase price of $2.0 billion plus the transfer of up to about $76 million in net underfunded pension and other post-employment benefit liabilities.

As per the terms of the agreement, Indorama Ventures would acquire Huntsman's manufacturing facilities located in Port Neches, Texas; Dayton, Texas; Chocolate Bayou, Texas; Ankleshwar, India; and Botany, Australia.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Online-video streaming giant Netflix Inc. (NFLX), Tuesday reported a fourth-quarter profit that trounced Wall Street estimates, as revenues surged 31% driven by strong subscriber growth. Netflix added 8.76 million subscribers globally in the quarter, above its forecast of 7.60 million, to end the... Fast food chain Krystal Company has filed for bankruptcy, according to reports. The Atlanta-based Krystal filed for Chapter 11 on Sunday in the U.S. Bankruptcy Court in Atlanta. In the filing, the company reportedly disclosed assets between $10 million and $50 million, and liabilities between $50 million and $100 million. The chief executive officer of Google's parent company Alphabet called for artificial intelligence or AI to be regulated, noting that there are real concerns about the potential negative consequences of the technology. According to Alphabet CEO Sundar Pichai, there are real concerns about the negative consequences of AI, from deepfakes to nefarious uses of facial recognition.
Follow RTT
>