Chemours, a global chemical company with a leading market position in titanium technology, thermal and professional solutions, advanced performance materials and chemical solutions, has reached a final agreement to sell its mining solutions for US$520 million The program business million in cash (equivalent to 10 times the adjusted EBITDA in 2020) as Draslovka Holding ("Draslovka"), a Czech private company focused on cyanide production. According to regulatory approvals and other customary closing conditions, the transaction is expected to be completed in the fourth quarter of 2021.

"The Mining Solutions divestiture announced today further advances our strategy of focusing on three major businesses to drive long-term shareholder value. Using the differentiated strategy, we are confident that our business is in a favorable position to achieve growth and higher levels in the economic cycle. Quality gains," Chemours President and CEO Mark Newman said, "The entire Mining Solutions team has been working hard to create a leading company with an unparalleled track record in safety and supply chain management. Draslovka's long-term expertise in cyanide adds Shang is committed to developing this business strategy, making them an ideal partner to invest in the success of our Mining Solutions employees and customers."

"This acquisition marks Draslovka's first major investment in the United States and advances Draslovka's international expansion plan," said Draslovka CEO Pavel Brůžek. "Our goal is to use Draslovka's CN-based specialty chemicals expertise and technical capabilities to support our global growth plan and to promote safety, efficiency and environmental considerations throughout the industry."

Keywords: International Engineering News, Mining

Gordon Dyal & Co. Advisory Group LP acted as Chemours' financial adviser, and Wachtell, Lipton, Rosen & Katz acted as its legal adviser. JPMorgan Chase acted as the transaction advisor and financing arranger of Draslovka, Dacheng acted as its legal advisor, and PricewaterhouseCoopers acted as the financial and tax advisor.Editor/Baohongying