Eastman Completes Sale Of Adhesives Resin Business
April 2, 2022 - Eastman Chemical Company (NYSE: EMN) announced that the company and its subsidiaries have completed the previously announced sale of its adhesive resins business to Synthomer plc.
The transaction includes hydrocarbon resins (including Eastman Impera tyre resins), pure monomer resins, polyolefin polymers, rosin resins and dispersions, as well as oleochemical and fatty acid-based resin product lines.
The business was previously part of Eastman's Additives and Performance Materials business segment.
The total consideration for the transaction was US$1 billion in cash. J.P. Morgan Securities LLC acted as exclusive financial advisor to Eastman and Jones Day acted as legal advisor to Eastman.
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