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Home  > Markets & companies  > SK Capital to acquire Huntsman’s remaining...

Monday, 28 September 2020
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Markets & companies

SK Capital to acquire Huntsman’s remaining interest in Venator Materials

Thursday, 3 September 2020

SK Capital buys remaining 40 % in shares of Venator for approximately USD 100 million.

SK Capital purchased approximately 42.5 million of shares in Venator Materials from Huntsman for a cash purchase price of some USD 100 million. Source: Andrzej Puchte - Fotolia.com
SK Capital purchased approximately 42.5 million of shares in Venator Materials from Huntsman for a cash purchase price of some USD 100 million. Sou...

Venator Materials has announced that funds advised by SK Capital Partners have agreed to purchase approximately 42.5 million shares, representing just under 40% of Venator's outstanding shares, from Huntsman Corporation. The purchase price amounts to approximately USD 100 million, including a 30-month option for the sale of Huntsman's remaining approximate 9.5 million shares it holds at USD 2.15 per share. The transaction is subject to regulatory approvals and is expected to close near year-end. 

Simon Turner, President and CEO of Venator, stated, "I am excited to welcome SK Capital as a major investor in Venator. They have a successful track record of investing in the chemical industry with a focus on long term growth. We appreciate this vote of confidence by Barry Siadat and the SK Capital team in the opportunities ahead for Venator and expected value creation for our shareholders." 

Barry Siadat, Co-Founder of SK Capital Partners commented, "We have had a long-term focus on the pigments industry and are delighted to have reached an agreement to purchase Huntsman’s remaining interest in Venator. We are also pleased to continue strengthening the relationship we’ve developed with Huntsman Corporation and its President, Chairman and CEO, Peter Huntsman. Huntsman is a clear leader in the global chemical industry, and we feel privileged to acquire their ownership position in Venator, which we view as a world class functional and specialty pigments business with a leadership position in titanium dioxide. We look forward to working with Simon Turner, CEO and President of Venator, and its board to support its growth and improvement." 

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