$2 billion! Huntsman completes the sale of its chemical intermediates and surfactants business to indorama Ventures

Recently, Huntsman announced that it has completed the sale of its chemical intermediate business (including PO / MTBE) and its surfactant business to indorama Ventures, with a transaction value of about $2 billion, of which the cash acquisition price is about $1.93 billion, including an estimated adjustment to the purchase price of working capital, as well as the transfer of pension gaps and other after service benefit liabilities up to about $76 million The final purchase price may be adjusted at the end of the transaction as usual Net cash income is expected to be close to $1.6 billion "This transformation transaction has significantly reduced our capital intensive upstream assets, further consolidated our already strong balance sheet and enabled us to further invest and develop our downstream business," said Peter Huntsman, chairman, President and CEO We are committed to retaining our downstream business We will stick to holding investment grade assets and our balanced capital distribution The deal greatly expanded our flexibility and opportunities in selecting strategic and value-added acquisitions, expanding our core downstream global business, and continuing to buy back shares at an opportunistic time We will remain disciplined and focused on creating long-term shareholder value " "It's a huge deal for huntsman and indorama I'm glad to see that so many of our excellent employees are transitioning to a company with values like Huntsman's Indorama is a family business led by aloke lohia and understands the value of high-quality talent I look forward to a long-term partnership with indorama "