Twitter LinkedIn
    Saturday, June 10
    Login
    0 Shopping Cart
    Twitter LinkedIn
    Private Equity InsiderPrivate Equity Insider
    • About Us
    • Digital Events
    • Our Network
      • Reach
      • Sponsors
      • Members
    Private Equity InsiderPrivate Equity Insider
    Home»Deals & Transactions»PQ Group Holdings to sell its performance chemicals unit for $1.1 billion
    Deals & Transactions

    PQ Group Holdings to sell its performance chemicals unit for $1.1 billion

    March 4, 20211 Min Read
    LinkedIn Facebook Twitter Email WhatsApp
    Share
    LinkedIn Facebook Twitter Email WhatsApp

    PQ Group Holdings Inc said on Monday it has agreed to sell its performance chemicals business, which makes cleaning and whitening agents for toothpastes and surface coatings, to a partnership formed by Cerberus Capital Management, L.P. and Koch Minerals & Trading LLC for a deal valued at $1.1 billion.

    The company, once the deal is closed, expects to use the proceeds to issue a special dividend of $2.50 to $3.25 per share for shareholders. The deal is expected to result in a debt reduction of $450 million to $550 million.

    Last week, the chemical firm agreed to buy Chem32, a supplier of catalyst pre-activation services used in renewable fuels, for $44 million to boost its refining services business.

    Citi is serving as lead financial advisor with BMO Capital Markets Corp. as co-advisor.

    Read more at Reuters

    Related

    Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.

    2021 deals and transactions PE Insider Private Equity
    Share. LinkedIn Facebook Twitter Email WhatsApp

    Related Posts

    Animal drugs maker Dechra agrees to lower £4.5bn takeover by Swedish private equity firm EQT

    June 3, 2023

    Warburg and Advent in the lead to acquire Baxter’s biopharma unit

    May 13, 2023

    BlackRock Sells Asset-Backed Bonds From Credit Suisse’s Books

    April 14, 2023

    KKR buys stake in communications firm FGS Global

    April 11, 2023

    Comments are closed.

    Other Articles

    Global mutual fund investors may offload $350bn worth of equities in 2022

    May 26, 2022

    Secure Trust Bank provides GBP70m in funding for PE-backed businesses

    February 25, 2021

    Claret Capital Partners launches Fund III

    January 19, 2021

    BlackRock to Vanguard, Global Funds Rush to Middle East IPO Boom

    May 10, 2022

    Private Equity Insider LLC
    1212 Avenue of the Americas
    New York City 10036
    USA

    [email protected]

    Twitter LinkedIn
    © 2023 Private Equity Insider LLC. All rights reserved.
    • About
    • Terms of Use
    • Cookie Policy
    • Privacy Policy
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.

    View Cart Checkout Continue Shopping

    Sign In or Register

    Welcome Back!

    Login to your account below.


    Lost password?