Hexion to Sell Phenolic Resin Business

Hexion Inc of Columbus, OH has entered into a definitive agreement for the sale of its phenolic specialty resins, hexamine and European-based forest products resins businesses to Black Diamond Capital Management, LLC and Investindustrial for a purchase price of approximately US$425 million. The consideration consists of US$335 million in cash and certain assumed liabilities with the remainder in future proceeds based on the performance of the business.

Volume 34, Issue 19

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