Eastman Chemical Company announced that it and certain of its subsidiaries have completed the previously reported sale of its adhesives resins business to Synthomer plc. The sale included the hydrocarbon resins (including Eastman Impera tire resins), pure monomer resins, polyolefin polymers, rosins and dispersions, and oleochemical and fatty-acid based resins product lines, all of which were previously part of Eastman’s Additives & Functional Products segment.
The total sale price of $1 billion was paid in cash. J.P. Morgan Securities LLC served as exclusive financial advisor and Jones Day served as legal advisor to Eastman.
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Source: Eastman
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