Huntsman sells equity in Venator Materials for $100 million

On August 28, American specialty chemicals company Huntsman announced that it has reached a final agreement with SK Capital Partners, a private equity investment company, to sell its equity in Venator Materials for approximately $100 million in cash. The transaction is still subject to regulatory approval and is expected to close by the end of the year.

　　 Huntsman said that the capital loss from the sale of Venator’s shares was deducted from the capital gains realized from the sale of chemical intermediates and surfactants in January this year, and Huntsman could save approximately US$150 million in taxes. Huntsman expects that the company will receive approximately $250 million in total cash proceeds at the end of the year.

　　According to the data, Venator Materials was originally the Huntsman Pigment and Additives Division. After the spin-off, it will operate as an independent subsidiary, focusing on titanium dioxide and performance additives.