Eastman Chemical Co

-0.37 (-0.31%)
Debt Financing / Related, Divestitures / Spin-offs, Other Pre-Announcement

Press Release - Eastman To Sell Tire Additives Business Product Lines

Published: 06/09/2021 12:41 GMT
Eastman Chemical Co (EMN) - Press Release - Eastman to Sell Tire Additives Business Product Lines.
Eastman Chemical Co - Entered Into a Definitive Agreement With an Affiliate of One Rock Capital Partners, Llc.
Eastman Chemical Co - Deal for $800 Million.
Eastman Chemical - Sale Price Consists of $725 Million Cash at Closing, Additional $75 Million Based on Performance of Rubber Additives Business Through 2023.
Eastman Chemical Co - Expects Sale Will Be Either Neutral Or Accretive to Adjusted EPS in 2022.
Eastman Chemical Co - Beginning in Q2 2021 and Until Sale, Assets of Rubber Additives Business Will Be Reported As Held for Sale.
Eastman Chemical Co - Expects to Recognize Asset Impairments Or a Loss From Agreement and Completion of Sale.