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Total sells Atotech chemicals unit to Carlyle for $3.2 billion
October 7, 2016 / 6:51 AM / a year ago

Total sells Atotech chemicals unit to Carlyle for $3.2 billion

PARIS (Reuters) - Total (TOTF.PA) has agreed to sell its speciality chemicals business Atotech to private equity firm Carlyle Group for $3.2 billion (2.57 billion pounds) , part of a $10 billion asset sale programme the French oil firm hopes to complete by the end of 2017.

A logo for oil giant Total is seen at a petrol station in London February 12, 2008. REUTERS/Stephen Hird/File Photo

Total said the sale price was equivalent to 11.9 times 2015 earnings before interest, tax, depreciation and amortisation for the business which specialises in metallization, panel plating and corrosion protection.

Reporting by Andrew Callus; editing by David Clarke

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