Huntsman, ICI Agree to Terms for Buyout of Huntsman International Stake
EVERBERG, Belgium -- Huntsman Specialty Chemicals Corp. (HSCC), a wholly owned subsidiary of Huntsman Corp., announced that it has agreed to terms with Imperial Chemical Industries (ICI) to purchase ICI's 30-percent equity stake in Huntsman International Holdings.
Under terms of the agreement, the basic purchase price remains approximately $365 million (L250 million), as originally announced in November 2000, together with an amount equivalent to interest from December 2001 until completion. The purchase price is payable in the third quarter of 2003.