Chemtura Completes Sale of Antioxidant and UV Stabilizers Business to SK Capital Partners
Chemtura today announced it has completed the sale of its Antioxidant and UV Stabilizers business, including dedicated manufacturing plants in the U.S., France, and Germany, to affiliates of SK Capital Partners, for $200 million. The transaction is subject to a post-closing adjustment related to net working capital.
Chemtura will account for the sale of the business in its second quarter 2013 financial statements and anticipates recording a non-cash loss primarily related to the release of cumulative foreign currency translation adjustments and accumulated other comprehensive income related to the transfer of pension obligations, among other items.
