Chemtura amends terms of sale of stabilizer business

摘要

Chemtura (Philadephia) has entered into an amended and restated asset-purchase and contribution agreement with SK Capital Partners regarding the sale of Chem-tura's antioxidant and ultraviolet stabilizer business for $200 million, Chemtura announced. The new terms provide for a cash payment of about $97 million oh closing; the receipt of $9 million in preferred stock; and the assumption of pension, environmental, and other liabilities totaling about $93 million. The initial terms called for Chemtura to receive proceeds of $190 million payable in cash at closing and a $10-million promissory note payable over a 4-year period, as well as the assumption of certain liabilities.