THE WOODLANDS, TX — Huntsman Corp. has entered into a definitive agreement with funds advised by SK Capital Partners LP to sell approximately 42.5 million of the shares it holds in Venator Materials PLC for a cash purchase price of approximately $100 million, including a 30-month option for the sale of the remaining approximate 9.5 million shares it holds at $2.15 per share. The transaction is subject to regulatory approvals and is expected to close near year-end.
Peter Huntsman, Chairman, President and CEO, said, "I am pleased to have reached an agreement to sell our remaining interest in Venator to SK Capital. We enjoy an ongoing relationship with SK Capital and their co-founder Barry Siadat. They are a great owner and operator of businesses, and we are pleased for them to acquire Huntsman's stake in Venator, a world-class functional and specialty TiO2 business. The proceeds to be received will further bolster our balance sheet and only enhance our flexibility for further growth."