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Orica to spin off or sell chemicals business

7:00 AM MDT | August 15, 2014

Orica (Melbourne) says that its board intends to pursue demerging or selling the company’s chemicals business. The announcement follows a review of the chemicals business. Orica says it has received a number of unsolicited enquiries from companies interested in acquiring the business. “Whilst demerger is currently the preferred approach, Orica will consider any alternatives that are in the interests of shareholders,” Orica says. Orica’s chemicals business has annual revenue of about A$1.2 billion ($1.1 billion). The chemicals business generated A$591...

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