Rockwood buys Kemira out of Sachtleben

Rockwood Holdings has agreed to acquire Kemira's 39% stake in the companies' Sachtleben (Duisburg, Germany) titanium dioxide (TiO2) joint venture for €97.5 million ($130 million). The deal is expected to close by 19 February. Kemira says it will include in its accounts a one-off write-down of about €25 million related to the transaction, which will impact the company's Ebit in the first quarter of 2013. The transaction is likely a prelude to Rockwood splitting Sachtleben from the rest of Rockwood, possibly by selling Sachtleben. Rockwood and Kemira...

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