Orica completes sale of chemicals business

摘要

Orica (Melbourne) says that it has completed the previously announced sale of the company’s chemicals business to funds advised by private equity frm Blackstone (New York), for A$750 million ($582 million). Orica's chemicals business has annual sales of about A$1.14 billion. Orica will be a producer of explosives and mining chemicals follow- ing the divestment. Orica announced last August that it intended to demerge or sell the company’s chemicals business.