Interesting! Sale provides attractive value for shareholders...

Interesting!

Sale provides attractive value for shareholders

BOSTON--(BUSINESS WIRE)--Jan. 30, 2019-- Cabot Corporation (NYSE: CBT) has entered into a definitive agreement to sell its Specialty Fluids business to Sinomine (Hong Kong) Rare Metals Resources Co. Limited, a wholly owned subsidiary of Sinomine Resource Group Co., Ltd., in a transaction valued at $135 million. The purchase price consists of $130 million to be paid at closing, subject to customary closing adjustments, and additional cash royalties of up to $5 million for lithium products, payable over a ten-year period. The transaction is expected to close in the third quarter of fiscal 2019 and is subject to customary closing conditions, including regulatory approvals. Earnings before interest, tax, depreciation and amortization (EBITDA) reported for the Specialty Fluids segment in fiscal year 2018 was $10 million.