Avient Corp to buy DSM business unit for $1.5 bln - Reuters

U.S. dollar banknotes are displayed in this illustration taken, February 14, 2022. REUTERS/Dado Ruvic/File Photo

Register now for FREE unlimited access to Reuters.com

April 20 (Reuters) - Specialized polymer materials maker Avient Corp (AVNT.N) said on Wednesday it has entered into an agreement with DSM (DSMN.AS) to buy its material division for $1.48 billion.

The proposed sale of DSM's Protective Materials business comes after the Dutch specialty chemicals maker's announcement last year about exploring an exit for the division as it aimed at making sustainable food and health products.

Avient's potential purchase deal includes all of DSM's Protective Materials activities, mainly consisting of Dyneema, DSM said in a separate statement, adding that the unit accounted for 335 million euros ($362.34 million) of the company's total annual net sales in 2021.

Register now for FREE unlimited access to Reuters.com

Financing for the transaction — expected to close later this year — is being provided by Morgan Stanley and JPMorgan, Avient said.

Avient, meanwhile, also said it plans to explore the sale of its distribution business, but did not provide additional details on the divestment.

($1 = 0.9246 euros)

Register now for FREE unlimited access to Reuters.com

Reporting by Anirudh Saligrama and Mrinmay Dey in Bengaluru; editing by Uttaresh.V

Our Standards: The Thomson Reuters Trust Principles.

Adblock test (Why?)

"corp" - Google News
April 20, 2022 at 09:45PM
https://ift.tt/68mNOQi

Avient Corp to buy DSM business unit for $1.5 bln - Reuters
"corp" - Google News
https://ift.tt/48Xf7UF
Shoes Man Tutorial
Pos News Update
Meme Update
Korean Entertainment News
Japan News Update

Bagikan Berita Ini