M&As: Albemarle to divest stakes in Ketjen, Eurecat in deals worth US$600 mn
Speciality chemicals firm Albemarle Corporation has announced it has entered into a definitive agreement to sell a controlling stake in Ketjen Corporation's refining catalyst solutions business to KPS Capital Partners. It will also divest its 50% interest in the Eurecat joint venture to France's Axens SA. Both deals are worth about US$660 million.
Albemarle and KPS, through affiliates, will own approximately 49% and 51% of Ketjen at close, respectively, with KPS having a majority of the Board of Directors and operational control of Ketjen. Albemarle will retain 100% of Ketjen Corporation's Performance Catalyst Solutions (PCS) business, including the PCS plant in Pasadena, Texas.
Separately, Albemarle will sell the entirety of its 50% interest in the Eurecat joint venture to Axens SA.
Completion of both transactions is expected in the first half of 2026, with both subject to customary closing conditions and regulatory approvals.
Across the two transactions, Albemarle expects to receive total pre-tax proceeds of approximately US$660 million, while also retaining an approximately 49% stake in Ketjen. Albemarle expects to use these proceeds for debt reduction and other general corporate purposes.
Based in Texas, Ketjen's refining catalyst solutions business provides advanced catalyst solutions to producers in the petrochemical and refining industries, from fluidised catalytic cracking to clean fuels solutions and hydro-processing.
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