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Issue 8, 2022 - Eastman sells adhesive resin business

 Last Update: 2022-11-12
 Source: Internet
 Author: User

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Eastman sells adhesive resins business

Recently, Eastman announced that it and its subsidiaries have completed the previously announced sale
of its adhesive resin business to Silkmar.

The transaction includes hydrocarbon resins (including Eastman Impera tire resins), pure monomer resins, polyolefin polymers, rosin and dispersions, and a portfolio of
oleochemical and fatty acid-based resins.
The business was previously part of Eastman's Additives and Functional Materials business
.

It is reported that the total price of the transaction is $1 billion in cash
.
J.
P.
Morgan Securities acted as Eastman's exclusive financial advisor, and Jones Day International Law acted as Eastman's legal counsel
.
On November 1, 2021, Eastman announced the transaction
.
In 2022, the transaction is expected to have a neutral impact
on Eastman's adjusted earnings per share.

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