Eastman Chemical to Sell Adhesives Resins Business to Synthomer plc
October 28, 2021
Eastman Chemical Company (NYSE: EMN) entered into a definitive agreement to sell its adhesives resins assets and business to Synthomer plc for $1.0 billion in cash. The transaction is expected to close in the first quarter of 2022, subject to regulatory approvals and customary closing conditions.
- Buyers
- Synthomer plc
- Targets
- Eastman adhesives resins assets and business (Hydrocarbon resins, pure monomer resins, polyolefin polymers, rosins and dispersions, oleochemical and fatty-acid based resins product lines)
- Sellers
- Eastman Chemical Company (and certain of its subsidiaries)
- Industry
- Manufacturing
- Location
- Tennessee, United States
- Transaction Type
- Divestiture
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