New York, United States -- Investment management company BlackRock has purchased 3.7m shares in Chemtura giving it an over share of nearly 6% of the chemical business.
A report of the transaction - filed on the US securities and Exchange Commission website on Thursday, 28 January, 2016.
The company reported net sales of $2.2bn (EUR2bn) in 2014 and an adjusted EBITDA in 2014 was $244m compared to $275m in 2013. Its value at the close of business on 28 January, 2016 was reported as $1.7bn by MarketWatch.
Black Rock’s global portfolio statement for March 2014 to February 2015 also lists $109,000 of Chemtura bonds, due to mature in July, 2021.
In 2015, Chemtura’s ceo Craig Robertson announced plans for the firm to break itself up with the polyurethane business potentially marketed as a single unit or in parts, as previously reported at UTECH-polyurethane.com.
XE Currency conversion: 1 February, 2016
