ICL To Sell Two Low Synergy Units For About $1 Bln

(RTTNews) - ICL (ICL) said that it has agreed to sell its fire safety and oil additives (P2S5 or phosphorus pentasulfide) business units to SK Capital, a private investment firm focused on specialty materials, chemicals and pharmaceuticals sectors, for an aggregate amount of approximately $1 billion.

The business is part of ICL Specialty Solutions' Advanced Additives business line and has operations in North and South America, Europe, Australia and Asia.

The sale is expected to close in the first half of 2018, subject to the fulfillment of customary closing conditions specified in the sale agreement, including receipt of approvals by the competent authorities.