Blackstone agrees $792m sale of Australia chemicals business
The Blackstone Group has agreed to sell Ixom, a chemicals business it carved out from Australia’s Orica three years ago, to Keppel Infrastructure Trust (KIT) for approximately A$1.1 billion ($792 million).
The transaction will be initially funded through debt, with Keppel Infrastructure Holdings – which owns 18.2% of KIT – set to participate in a subsequent equity fundraising, according to a filing....
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