INEOS Enterprises has announced that it has agreed to sell it shares in INEOS Calabrian, its ultra-pure sulfur dioxide and derivatives business, to Ecovyst.
Ashley Reed, Chairman of INEOS Enterprises, said: “INEOS Calabrian has been part of INEOS Enterprises for the past ten years, during which time it has delivered significant improvements in safety, operational performance, and financial results. This transaction, valued at US$190 million, reflects our disciplined approach to portfolio management – acquiring businesses, improving them at pace, and realising value."
“Calabrian is a strong, well-positioned semi-speciality chemicals business. However, it is not a core fit within INEOS’ long-term portfolio. Ecovyst is well placed to take the business forward and support its next phase of growth.”
INEOS was advised by Piper Sandler and Slaughter and May.