Following a strategic review of operations Orica has announced plans to sell or demerge its' Chemicals business
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Following a strategic review of operations Orica has announced plans to sell or demerge its' Chemicals business. The Company says the process would allow the Chemicals business the freedom to develop its own corporate strategy, capital structure and financial policies appropriate for the business as a separately listed entity. The business generates annual revenue of approximately $1.2 billion and a demerger would create a separately listed ASX vehicle. Whilst a demerger is the preferred option for Orica the Company reports there has been early expressions of interest for parties considering a purchase of the business. There are no obvious owners in the Australian listed space, however, there could be interest from Private Equity who may see the opportunity to improve margins in the business. A new listed vehicle would likely be well supported and fits in line with Orica's successful spin-off with Dulux. (VIEW LINK)
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