Arkema to Sell Functional Polyolefins Business to SK Global Chemical
October 14 2019 - 12:48PM
Dow Jones News
By Kim Richters
Arkema (AKE.FR) said Monday that it plans to sell its functional
polyolefins business to SK Global Chemical, valuing the division at
335 million euros ($369.6 million).
The French chemical company said the divestment of the business,
which produces chemicals used in sectors such as food packaging, is
part of its move towards a focus on specialty chemicals and
advanced materials.
SK Global Chemical, which will create a French holding company
for the takeover, is a subsidiary of South Korean conglomerate SK
Group, Arkema said.
The divestment is subject the approval of antitrust authorities
as well as a consultation process with the company's employee
representative bodies and is expected to close in the second
quarter next year, it said.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
October 14, 2019 12:33 ET (16:33 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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