Chemtura amends terms of sale of stabilizer business

Chemtura (Philadephia) has entered into an amended and restated asset-purchase and contribution agreement with SK Capital Partners regarding the sale of Chemtura’s antioxidant and ultraviolet stabilizer business for $200 million, Chemtura announced. The new terms provide for a cash payment of about $97 million on closing; the receipt of $9 million in preferred stock; and the assumption of pension, environmental, and other liabilities totaling about $93 million. The initial terms called for Chemtura to receive proceeds of $190 million payable in cash at closing...

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