Albemarle (ALB) Confirms Deal to Sell Fine Chemistry Services Business to W.R. Grace & Co (GRA)
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Albemarle Enters Definitive Agreement to Sell Fine Chemistry Services Business to W.R. Grace & Co.
February 25, 2021 5:45 PM ESTCHARLOTTE, N.C., Feb. 25, 2021 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a leader in the global specialty chemicals industry, today announced that it has signed a definitive agreement to sell its Fine Chemistry Services business to W.R. Grace & Co. for approximately $570 million, consisting of $300 million in cash, and the issuance to Albemarle of preferred equity of a W.R. Grace & Co. subsidiary having an aggregate stated value of $270 million. As part of the transaction, Grace will acquire Albemarle's operations in Tyrone, Pa., and South Haven, Mich.
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