Huntsman To Sell Chemical Intermediates And Surfactants Businesses For $2.1 Bln

(RTTNews) - Huntsman Corp. (HUN) said that it agreed to sell its chemical intermediates businesses, which includes PO/MTBE, and its surfactants businesses to Indorama Ventures in a transaction valued at $2.076 billion. The transaction is is expected to close near year-end.

The deal comprised a cash purchase price of $2.0 billion plus the transfer of up to about $76 million in net underfunded pension and other post-employment benefit liabilities.

As per the terms of the agreement, Indorama Ventures would acquire Huntsman's manufacturing facilities located in Port Neches, Texas; Dayton, Texas; Chocolate Bayou, Texas; Ankleshwar, India; and Botany, Australia.