Coatings Industry News

Main News Page


Huntsman Completes Sale of Venator Shares

Tuesday, January 19, 2021

Comment | More

Huntsman Corporation announced late last month that it has completed the sale of approximately 42.4 million shares of Venator Materials PLC to funds advised by SK Capital Partners LP.

In the deal, the company received $100 million in cash, including $8 million for a 30-month option for the sale of the remaining 9.7 million shares held by Huntsman at $2.15 per share.

Ondrej Mangl, public domain, via Wikimedia Commons

Huntsman Corporation announced late last month that it has completed the sale of approximately 42.4 million shares of Venator Materials PLC to funds advised by SK Capital Partners LP. Venator focuses largely on titanium dioxide.

“Together with immediate cash tax savings of approximately $150 million from offsetting the capital loss on the sale of Venator shares against the capital gain realized on the sale of our chemical intermediates and surfactants businesses that closed in early January of this year, Huntsman secured an aggregate total related benefit of approximately $250 million in cash this year,” the company said.

Peter Huntsman, CEO and Chairman, added: "We are pleased to have completed this transaction before year end enabling us to reduce our current tax obligations by $150 million. Venator has a bright future as Tio2 markets strengthen and the business continues to improve. I am confident that SK Capital has the capacity to even further enhance Venator's prospects."

The agreement was initially announced in September.

Huntsman launched the Venator subsidiary as a public offering in July 2017. At the time, the Houston Chronicle reported that the IPO for the pigments business totaled $500 million.

Venator—which is the Latin name for “hunter,” and a play on the Huntsman company name—focuses largely on titanium dioxide.

   

Tagged categories: Asia Pacific; Business matters; EMEA (Europe, Middle East and Africa); Good Technical Practice; Huntsman; Latin America; Market share; North America; Titanium dioxide; Z-Continents

Comment Join the Conversation:

Sign in to our community to add your comments.


Advertisements
 
KTA-Tator, Inc. - Corporate Office

 
Axxiom Manufacturing

 
Tarps manufacturing, Inc.

 
Western Technology Inc.

 
 
 

Technology Publishing Co., 1501 Reedsdale Street, Suite 2008, Pittsburgh, PA 15233

TEL 1-412-431-8300  • FAX  1-412-431-5428  •  EMAIL webmaster@paintsquare.com


The Technology Publishing Network

PaintSquare the Journal of Protective Coatings & Linings Paint BidTracker

 
EXPLORE:      JPCL   |   PaintSquare News   |   Interact   |   Buying Guides   |   Webinars   |   Resources   |   Classifieds
REGISTER AND SUBSCRIBE:      Free PaintSquare Registration   |   Subscribe to JPCL   |   Subscribe to PaintSquare News
MORE:      About PaintSquare.com   |   Privacy Policy   |   Terms & Conditions   |   Support   |   Site Map   |   Search   |   Contact Us