HOUSTON - The Dow Chemical Co. (Dow) has signed a definitive agreement to sell ANGUS Chemical Co. (ANGUS) to Golden Gate Capital for $1.215 billion. The transaction is expected to close during the first quarter of 2015, subject to completion of customary regulatory filings.
Dow had previously announced its intent to divest this business on October 2, 2014. The divestiture aligns to Dow’s efforts to achieve its identified target of $4.5 billion to $6 billion in proceeds from shedding non-strategic assets and businesses by year-end 2015. To date, Dow has achieved $2.5 billion in proceeds designed to remunerate shareholders, reduce debt and fund growth.