(Adds details on Mondo Minerals, deal funding, shares)
June 29 (Reuters) - Speciality chemicals company Elementis Plc said on Friday it would buy Mondo Minerals from U.S. private equity firm Advent International for an enterprise value of $600 million to expand into talc additives used in a range of products from plastics to cosmetics.
Shares of Elementis fell 4.4 percent on the London Stock Exchange in morning trade, paring early gains.
Mondo, which owns talc mines in central Finland, makes industrial talc additives, used to strengthen plastics, provide corrosion resistance to coatings, oxygen barrier to food packaging and UV protection to cosmetics.
Elementis said it expects the cash-and-debt-free deal to add to margins and adjusted earnings per share in the first full year of ownership.
The acquisition of Amsterdam-based Mondo will be funded by an about $280 million rights issue and debt facilities of $775 million, Elementis said.
Elementis announced a $360-million-deal last year to buy U.S.-based SummitReheis from an affiliate of private equity firm One Rock Capital Partners LLC to expand its personal care chemicals business.
Reporting by Arathy S Nair and Muvija M in Bengaluru; Editing by Amrutha Gayathri