Huntsman (HUN) Announces the Sale of its India Based DIY Consumer Adhesives Business
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Huntsman Announces the Sale of its India Based DIY Consumer Adhesives Business
October 28, 2020 4:05 PM EDTTHE WOODLANDS, Texas, Oct. 28, 2020 /PRNewswire/ -- Huntsman Corporation (NYSE: HUN) announced today that it has entered into a definitive agreement to sell its India based Do-It-Yourself (DIY) consumer adhesives business, part of the Advanced Materials division, to Pidilite Industries Ltd. in an all-cash transaction valued at up to $285 million, excluding customary working capital and other adjustments. The transaction value represents a 2019 adjusted EBITDA multiple of approximately 15 times. Under the terms of the agreement Huntsman will receive approximately $257 million in cash at closing and up to approximately $28 million of additional cash... More
