SSL Sasol Ltd

By Aisha Al-Muslim

Huntsman Corp. (HUN) has made a deal to acquire the 50% interest from Sasol Ltd. that Huntsman does not already own in the Sasol-Huntsman maleic anhydride joint venture in Germany.

Huntsman will pay Sasol $92.5 million, adjusted for debt and other agreed-upon terms, funded from available liquidity, Huntsman said Friday. No other terms of the transaction were disclosed. The transaction is expected to close in the fourth quarter.

The joint venture owns a manufacturing facility in Moers, Germany, with capacity to produce 230 million pounds of maleic anhydride.

The deal would give Huntsman the flexibility to fully integrate its European business into its worldwide footprint, the company said.

"This fits well into our core strategy to expand our portfolio of businesses with higher, more stable margins and strong free cash flow," Chief Executive Peter Huntsman said in prepared remarks.

Huntsman, a global manufacturer and marketer of differentiated and specialty chemicals, operates more than 75 manufacturing, research and development, and operations facilities in about 30 countries and employs about 10,000 people.

Write to Aisha Al-Muslim at aisha.al-muslim@wsj.com

(END) Dow Jones Newswires

July 26, 2019 16:36 ET (20:36 GMT)

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