此次出售预计将于 2022 年第一季度完成。
朱佳妮 摘译自 安迅思
Eastman to sell adhesives resins business for $1bn
Eastman Chemical entered into a definitive agreement to sell its adhesives resins assets and business to UK-based chemicals company Synthomer for $1bn, the company said on Thursday.
The sale consists of hydrocarbon resins, pure monomer resins, polyolefin polymers, rosins and dispersions and oleochemical and fatty-acid based resins product lines.
The final purchase price is subject to working capital and other adjustments at closing. Currently, the total sales price represents a multiple of 11 times trailing 12-month adjusted EBITDA (earnings before interest, tax, depreciation and amortisation) of the adhesives resins business.
Eastman expects the sale to be neutral to adjusted earnings per share in 2022.
“Along with the divestiture of the tyre additives business, this sale is part of our effort to improve the performance of the Additives & Functional Products segment," said CEO Mark Costa.
“We will continue to focus on leveraging our innovation-driven strategy to grow our specialty businesses within AFP and deliver strong earnings growth,” he added.
The sale is subject to regulatory approvals and other customary closing conditions, including employee representative consultation in applicable jurisdictions.
Beginning in the fourth quarter of 2021 and until sale, the assets of the adhesives business will be reported as held for sale.
The sale is expected to close in the first quarter of 2022.