Reuters logo
UPDATE 1-Total sells Atotech chemicals unit to Carlyle for $3.2 bln
October 7, 2016 / 7:41 AM / in a year

UPDATE 1-Total sells Atotech chemicals unit to Carlyle for $3.2 bln

(adds background, shares, statement link)

PARIS, Oct 7 (Reuters) - Total has agreed to sell its speciality chemicals business Atotech to private equity firm Carlyle Group for $3.2 billion, part of a $10 billion asset sale programme the French oil firm hopes to complete by the end of 2017.

Total said the sale price was equivalent to 11.9 times 2015 earnings before interest, tax, depreciation and amortisation for the business which specialises in metallization, panel plating and corrosion protection.

* Atotech, which has a strong presence in Asia, has been on the block for several years.

* Business has 4,000 employees in 40 countries

* Total shares little changed, down 0.8 pct in early trade

* Full statement for Eikon users (Reporting by Andrew Callus; editing by David Clarke)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below