Trinseo Announces Sale of Synthetic Rubber Business to Synthos S.A. for $491 Million

 Trinseo Announces Sale of Synthetic Rubber Business to Synthos S.A. for $491 Million

BERWYN, Pa.–()–Trinseo (NYSE: TSE), a global materials company and manufacturer of plastics, latex binders and synthetic rubber, announced today it has entered into a definitive agreement to sell its synthetic rubber business based in Schkopau, Germany (“Synthetic Rubber” or the “Business”) to Synthos S.A. and its affiliates (collectively “Synthos”) for an enterprise value of approximately $491 million, comprised of $449.4 million of cash and the assumption of approximately $41.6 million of pension liabilities. The expected net cash proceeds are approximately $400 million after transaction-related costs and taxes.

The transaction, which is subject to customary closing conditions and regulatory approvals, is expected to close in 2022. The Business includes approximately 440 employees, mostly located in Schkopau, Germany, who are expected to join Synthos once the transaction closes. The transaction…

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