ICI completes Huntsman sale

Published: 14-May-2003
Ingredients Finance


ICI has completed the sale of its interests in Huntsman International Holdings for a gross total of US$440m. Interest of $25m has also been received. This is in accordance with the agreement announced last June with Matlin Patterson Global Opportunities Partners. $160m was received by ICI when the agreement was first announced and the balance, including interest, of $305m has now been paid. The proceeds of the sale will be used to reduce debts.

The transaction will give rise to a profit after tax of about £55m which will be accounted for as an exceptional item in the second quarter.

  • Companies:
  • Huntsman
See more

You may also like

Finance

Investor White Tale urges Clariant to call off $15m Huntsman deal

Read more
In a public letter, the investment company criticises the planned merger to create HuntsmanClariant

Trending Articles

  1. The Body Shop's downfall triggered by failing to secure credit The beauty company’s owner Aurelius Group failed to secure new funding, according to reports in The Telegraph
  2. You need to be a subscriber to read this article.
    Click here to find out more.
    Future beauty forecasting from in-cosmetics Global 2024 Longevity, pre-ageing and AI-empowered ingredients were some standout themes from the Paris ingredients trade show last week
  3. Puig sets IPO target for close to €14 billion The Spanish beauty giant plans to sell Class B shares at €22 to €24.50 each, which would value the group between €12.7bn and €13.9bn
  4. You need to be a subscriber to read this article.
    Click here to find out more.
    YSL Beauty accelerates global sustainability initiative with new rewilding projects The luxury beauty brand’s Rewild Our Earth programme, which aims to protect biodiversity, will fund new projects in Colombia and the Bahamas this year
  5. L’Oréal’s sales soar thanks to dermatological beauty​​ and mass make-up The French beauty giant reported revenue of €11.24bn for the quarter, driven by increasing consumer demand for dermatological beauty and mass make-up

Upcoming event

China Beauty Expo

22-24 May | Shanghai, China See all

You may also like

Finance

Investor White Tale urges Clariant to call off $15m Huntsman deal

In a public letter, the investment company criticises the planned merger to create HuntsmanClariant
Ingredients

HuntsmanClariant merger: Second request for information

US Federal Trade Commission delivers information request concerning sodium isethionate used in soap and shampoos
Ingredients

Clariant and Huntsman merge to form $20bn chemical company

The newly-formed HuntsmanClariant is described as “the perfect deal at the right time”
Ingredients

Surfactants for trending bathroom products

Modern cleansing products and the surfactants used in them
Ingredients

Huntsman enters China with $40m technology centre

Asia Pacific Technology Center is opened in Shanghai\'s Minhang Economic & Technological Development Zone
Ingredients

Huntsman to buy Rockwood\'s performance additives and TiO2 businesses

$1.1bn transaction will make Huntsman the second largest supplier of TiO2 and inorganic colour pigments worldwide
Ingredients

Huntsman completes Laffans acquisition

Intensifies focus on Asia
Subscribe now