Innospec to Purchase Huntsman's European Surfactants Business
THE WOODLANDS, TX – Innospec Inc. has committed to purchase Huntsman Corp.’s European surfactants business. Under the terms of the planned transaction, Innospec would acquire Huntsman’s manufacturing facilities located in Saint-Mihiel, France; Castiglione delle Stiviere, Italy; and Barcelona, Spain.
As part of the $225 million enterprise value, Huntsman would retain its related accounts receivables and trade payables. Closing is expected to occur by the end of the fourth quarter of 2016, and is subject to customary conditions, including the representative bodies consultation processes where required by applicable law. Net proceeds of the sale would be used to repay debt.