Cathay Industries, a global manufacturer of color-based raw materials, announced that it has entered into an agreement with Venator Materials PLC to purchase its iron oxide pigment business.
In addition to Venator’s product portfolio, the purchase includes eight manufacturing sites and one administrative site across six countries.
The transaction is expected to close by the end of the first quarter in 2023, subject to the customary closing conditions. UBS AG acted as financial advisor to Cathay. White and Case acted as international legal counsel to Cathay Industries.