Chemtura Amends Terms of Sale of its Antioxidant and UV Stabilizers Business
to SK Capital Partners
PHILADELPHIA, Pa. -- January 25, 2013
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
Dalip Puri, 203-573-2153
Vice President, Investor Relations and Treasurer
John Gustavsen, 203-573-3224
Manager, Corporate Communications
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