Eastman Chemical acquires Taminco for $1.7 Billion

Eastman Chemical acquires Taminco for $1.7 Billion

Eastman Chemical acquires Taminco for $1.7 Billion

The Eastman Chemical Company agreed to acquire maker of specialized chemicals Taminco Corporation for $1.7 billion.

 Under the terms of the deal, Eastman will pay $26 a share, 9 percent premium above Taminco Wednesday’s closing price.The transaction is valued at 2.8 billion, including assumption of Taminco’s debt.

 Taminco, niche chemicals maker like water treatment, oil and gas companies or alkylamines for agriculture went public last year to Apollo Global Management, which bought Taminco for $1.4 billion from CVC Capital Partners in 2011.

 “The acquisition of Taminco demonstrates Eastman’s continued commitment to accelerating growth throughout the company and around the globe,” said Chairman and CEO of Eastman Mark J. Costa, “As a specialty chemical company with consistent earnings growth and leading positions in attractive niche end markets, Taminco is a strong fit with Eastman’s strategic focus.”

 Eastman advisors are Citigroup and the law firm Jones day, while Morgan Stanley and the law firm Kirkland & Ellis advised Taminco.

 Taminco will have 30 days to find a better offer. The transaction is expected to close by end of the year.

 

 Mr. Stakebay says:

Acquiring Taminco helps Eastman boost food offerings, agriculture and feed industires, cost savings about $60 million and increases revenues.

 

CEO of Taminco Corporation ………………Laurent Lenoir…….(2010-present)……..$ 457 172 (2013)

CEO of Eastman Chemical Company………Mark J. Costa……..(2014-present)……$ 3 232 053 (2014)

 

EASTMAN CHEMICAL

TAMINCO CORPORATION

Revenue

$ 9.35 billion (2013)

$ 1.2 billion (2013)

Operating income

$ 1.862 billion (2013)

$ 9.6 million (2013)

Profit

$ 1.165 billion (2013)

$ -7 million (2013)

Total assets

$ 11.845 billion (2013)

$ 1.856 billion (2013)

Total Equity

$ 3.875 billion (2013)

$ 525 million (2013)

Employees

14000 (2013)

851 (2013)

 

 

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