Elementis PLC - London-based speciality chemicals - Completes USD119 million sale of Chromium business, a producer of chromium chemicals, to Yildirim Group. Back in November, Elementis said it had agreed to sell Chromium to Yildirim, a Dutch-Turkish industrial group headquartered in Istanbul and Amsterdam, for an enterprise value of USD170 million. The transaction includes the transfer of environmental liabilities of USD35 million, and other liabilities of USD8 million, with the total cash proceeds on completion at USD119 million before tax and transaction costs.
Current stock price: 125.40 pence, up 0.6% on Tuesday afternoon in London
12-month change: down 12%
By Tom Budszus, Alliance News reporter
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Elementis (ELM)