Celanese Divests Micromax Operations To Element Solutions For ~$500M In Cash

Celanese Corporation +0.80%
Element Solutions Inc -1.56%

Celanese Corporation

CE

64.06

+0.80%

Element Solutions Inc

ESI

34.08

-1.56%

Celanese Corporation (NYSE: CE), a global specialty materials and chemical company, today announced that it has completed the divestiture of the Micromax® business to Element Solutions Inc (NYSE:ESI). Celanese received approximately $500 million in cash from the transaction, and the proceeds will be deployed to support the Company's deleveraging efforts.

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