Umicore sell zinc chemicals business in €142.4 million deal

Umicore to sell zinc chemicals business in €142.4 million deal

5:16 AM, 3rd June 2016
Umicore to sell zinc chemicals business in €142.4 million deal

BRUSSELS, BELGIUM: Umicore NV has reached an agreement to sell its zinc chemicals business unit to OpenGate Capital for €142.4 million. The transaction is expected to be closed during the second half of 2016. 

“We are delighted to have concluded this deal. Zinc chemicals has an outstanding portfolio of products and operations and our colleagues have done a great job to position the business as a leader in its market segments. The new owner has a clear industrial project and will provide the business with the means to further develop and grow,” said Marc Grynberg, CEO of Umicore.

BNP Paribas and Cleary Gottlieb Steen & Hamilton acted as Umicore’s advisors in the transaction.

© Worldofchemicals News


Read the latest news from Umicore:

Umicore expands cathode materials capacity in South Korea, China

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