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CHMT > SEC Filings for CHMT > Form 8-K on 13-Nov-2012All Recent SEC Filings

Show all filings for CHEMTURA CORP



Entry into a Material Definitive Agreement, Financial Statements and Exhibits

Item 1.01 Entry Into a Material Definitive Agreement.

On November 9, 2012, Chemtura Corporation entered into an Asset Purchase Agreement ("APA") with SK Blue Holdings, Ltd., an exempted company incorporated in the Cayman Islands with limited liability and an affiliate of SK Capital Partners III, L.P., a Delaware limited liability company ("SK"). As provided in the APA, Chemtura Corporation or its affiliates (collectively, "Chemtura" or the "Company") have agreed to sell the Company's antioxidants and UV stabilizer business (the "AO/UV Business") for $200 million, $190 million payable in cash at closing and a $10 million promissory note payable over a four year period, and the assumption of certain liabilities. The purchase price is subject to a post-closing net working capital adjustment. The acquisition is subject to customary closing conditions and is expected to close at the end of 2012 or early 2013.

On November 12, 2012, Chemtura issued a press release announcing the sale of the AO/UV Business. 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

99.1 Press Release issued by Chemtura, dated November 12, 2012

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