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CHMT > SEC Filings for CHMT > Form 8-K on 10-Oct-2013All Recent SEC Filings

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Form 8-K for CHEMTURA CORP


10-Oct-2013

Entry into a Material Definitive Agreement, Regulation FD Disclosure, Financial Sta


Item 1.01. Entry Into a Material Definitive Agreement.

On October 9, 2013, Chemtura Corporation, Chemtura Holdings GmbH, Great Lakes Chemical Corporation and Great Lakes Chemical (Netherlands) B.V. (collectively, "Chemtura" or the "Company") entered into a Stock Purchase Agreement ("SPA") with KIK Custom Products Inc. ("KIK"), a Delaware corporation and KCP Corporate Holdings Inc., a Delaware corporation and affiliate of KIK. As provided in the SPA, Chemtura has agreed to sell its Consumer Products business to KIK for $315 million payable in cash at closing of the transaction contemplated by the SPA (the "Closing"). The purchase price is subject to certain customary pre- and post-Closing adjustments, including for working capital and assumed pension liabilities. The transaction is subject to customary Closing conditions and regulatory approvals and is targeted to close on December 31, 2013.

The foregoing description of the SPA does not purport to be complete and is qualified in its entirety by reference to the SPA, which is filed as Exhibit 2.1 to this Form 8-K and incorporated herein by reference.

On October 10, 2013, Chemtura issued a press release announcing, among other things, the execution of the SPA. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.



Item 7.01 Regulation FD Disclosure.

Chemtura's press release also announced that its board of directors has decided to explore a sale of Chemtura's agrochemicals business, Chemtura AgroSolutions, and provided an update on its third quarter 2013 performance. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.



Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit Number   Exhibit Description

     2.1         Stock Purchase Agreement, dated as of October 9, 2013, among KIK
                 Custom Products Inc., KCP Corporate Holdings Inc., Chemtura
                 Corporation, Chemtura Holdings GmbH, Great Lakes Chemical
                 Corporation and Great Lakes (Netherlands) B.V. (Pursuant to Item
                 601(b)(2) of Regulation S-K, the schedules to the Stock Purchase
                 Agreement have been omitted and Chemtura agrees to furnish
                 supplementally a copy of any such omitted schedule to the SEC upon
                 request).

     99.1        Press Release issued by Chemtura Corporation, dated October 10,
                 2013.

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