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The Wall Street Journal: Huntsman selling 2 chemical units to Thai rival for $2.1 billion

Huntsman will sell its chemical intermediates and its surfactants units to Thailand-based Indorama Ventures, it said in a statement on Wednesday. Read More...

Chemicals maker Huntsman Corp. agreed to sell two units to an Asian rival for roughly $2.1 billion.

Huntsman HUN, -2.04%   will sell its chemical intermediates and its surfactants units to Thailand-based Indorama Ventures IVL, +2.00%  , it said in a statement on Wednesday.

The purchase price includes $2 billion of cash, in addition to the transfer of as much as $76 million in net underfunded pension and other retirement-benefit liabilities.

Chemical intermediates and surfactants are used in a range of products, including lubricants and cleaning supplies. Indorama, founded by Indian businessman Aloke Lohia, has been looking to expand in the U.S., and the purchase would jump-start that goal. Huntsman, meanwhile, would be exiting from one of its slowest-growing businesses and getting cash to expand its core polyurethane business.

An expanded version of this report appears on WSJ.com.

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