Mon, Jul. 25, 11:31 AM
- Total's (TOT -2.5%) stake in German surface finishing and metal plating company Atotech is expected to receive bids of more than €3B ($3.3B) from chemicals firms Umicore (OTCPK:UMICF) and Sinochem by tomorrow's deadline, Reuters reports.
- Arkema (OTC:ARKAF), a former TOT subsidiary, and BASF (OTCQX:BASFY) have looked at Atotech but are seen as unlikely partners, while P-E firms such as CVC, Cinven, BC Partners, Advent, Bain and Carlyle are expected to submit bids, according to the report.
- Atotech, which generates ~$1B in annual sales, is TOT's sole remaining specialty chemicals unit after the sale of Bostik to Arkema in 2014.
Thu, Apr. 14, 8:50 AM
- Calgon Carbon (NYSE:CCC) has made a binding offer to acquire the wood-based activated carbon and filter aid business of CECA, a subsidiary of Arkema Group (OTCPK:ARKAY), for €145.5M ($160.1M).
- The transaction, which is anticipated to close in the fourth quarter of 2016, is expected to be accretive to the company's fully diluted earnings per share in 2017, excluding purchase accounting adjustments.
- Calgon expects to finance the transaction through a combination of cash and debt.
- Now read Calgon Carbon Suffering From Headwinds But They Are Improving
Sep. 19, 2014, 4:31 AM
- Arkema (OTC:ARKAF) has made a €1.7B ($2.2B) offer for Total's (NYSE:TOT) adhesives business Bostik, which follows last week's reports that the French oil major was looking to sell the business. Arkema itself was spun out of Total in 2006.
- In recent years Total has announced its plans to sell between $15B-$20B of non-oil-producing assets and others with falling profitability by 2015, as part of a program to improve its cash flow and profitability.