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Home  > Markets & companies  > Raw materials market  > Huntsman agrees to sell its remaining inte...

Tuesday, 29 September 2020
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Markets & companies, Raw materials market

Huntsman agrees to sell its remaining interest in Venator

Monday, 14 September 2020

Huntsman has announced that it has entered into a definitive agreement to sell approximately 42.5 million of the shares it holds in TiO2 manufacturer Venator.

Huntsman is about to sell its remaining interest in TiO<custom name='sub'>2 </custom>manufacturer Venator. Image source:&nbsp; Jag_cz – stock.adobe.com (symbol image).
Huntsman is about to sell its remaining interest in TiO2 manufacturer Venator. Image source:  Jag_cz – stock.adobe...

The agreements includes a 30-month option for the sale of the remaining approximate 9.5 million shares it holds. The transaction is subject to regulatory approvals and is expected to close near year-end.

"Will further bolster our balance sheet"

Peter Huntsman, Chairman, President and CEO, commented, "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."

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