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ARKAY Arkema (PK)

92.07
1.54 (1.70%)
18 Jun 2024 - Closed
Delayed by 15 minutes
Name Symbol Market Type
Arkema (PK) USOTC:ARKAY OTCMarkets Depository Receipt
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  1.54 1.70% 92.07 90.09 93.27 92.07 91.44 91.97 13,890 21:00:15

Arkema to Sell Functional Polyolefins Business to SK Global Chemical

14/10/2019 5:48pm

Dow Jones News


Arkema (PK) (USOTC:ARKAY)
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   By Kim Richters 
 

Arkema (AKE.FR) said Monday that it plans to sell its functional polyolefins business to SK Global Chemical, valuing the division at 335 million euros ($369.6 million).

The French chemical company said the divestment of the business, which produces chemicals used in sectors such as food packaging, is part of its move towards a focus on specialty chemicals and advanced materials.

SK Global Chemical, which will create a French holding company for the takeover, is a subsidiary of South Korean conglomerate SK Group, Arkema said.

The divestment is subject the approval of antitrust authorities as well as a consultation process with the company's employee representative bodies and is expected to close in the second quarter next year, it said.

 

Write to Kim Richters at kim.richters@wsj.com

 

(END) Dow Jones Newswires

October 14, 2019 12:33 ET (16:33 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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