Sector News

Total sells Atotech chemicals unit to Carlyle for $3.2 billion

October 7, 2016
Chemical Value Chain

Total has agreed to sell its speciality chemicals business Atotech to private equity firm Carlyle Group for $3.2 billion (2.57 billion pounds) , part of a $10 billion asset sale programme the French oil firm hopes to complete by the end of 2017.

Total said the sale price was equivalent to 11.9 times 2015 earnings before interest, tax, depreciation and amortisation for the business which specialises in metallization, panel plating and corrosion protection.

By Andrew Callus

Source: Reuters

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