Blackstone to Buy Orica's Chemicals Business for A$750M
November 20, 2014
The Blackstone Group has entered into an agreement to acquire the chemicals business of explosives company Orica (ASX: ORI). The deal, which is expected to closed in 1Q 2015, is valued at A$750 million ($647 million). Along with the chemicals trading businesses in Australia, New Zealand and Latin America, the deal includes the company's Australian chloralkali manufacturing business as well as its supply unit that serves the food & nutrition and health & personal care industries in Australia, New Zealand and Asia.