Deals
Total Sells Chemicals Unit to Carlyle Group for $3.2 Billion
- Deal values Atotech at 11.9 times its 2015 adjusted Ebitda
- Chemicals business had revenue of 1 billion euros in 2015
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Total SA agreed to sell its specialty chemicals unit Atotech to Carlyle Group LP for $3.2 billion as the French oil company disposes of non-core assets to weather a slump in crude and preserve payouts to shareholders.
The sale price is 11.9 times Atotech’s 2015 adjusted earnings before interest, tax, depreciation and amortization, the companies said in a statement Friday. Equity for the transaction will come from buyout funds Carlyle Europe Partners IV and Carlyle Partners VI.