FMC sells Alkali Chemicals to Tronox for $1.64 million

FMC Corp. said April 1 that it has sold its Alkali Chemicals business to Tronox, Ltd. for $1.64 billion.

"We're pleased that the Alkali Chemicals business is now owned by Tronox, where it will thrive as part of a leading, global mining and minerals company," FMC President, CEO and Chairman Pierre Brondeau said. "Completing this transaction ensures FMC will maintain a strong balance sheet as we prepare to close the acquisition of agrochemical maker Cheminova A/S and complete our transformation into a global agriculture, health and nutrition company."

The company said the acquisition of Cheminova should close this month.

BofA Merrill Lynch and Goldman, Sachs & Co. were FMC's financial advisers for this transaction. Wachtell, Lipton, Rosen & Katz and Morgan Lewis & Bockius, LLP were the company’s legal advisers