Celanese Corporation (NYSE:CE) Files An 8-K Entry into a Material Definitive AgreementItem 1.01
Entry into a Material Definitive Agreement.
The information set forth in Item 1.02 of this Form 8-K is incorporated by reference herein.
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Item 1.02 |
Termination of a Material Definitive Agreement. |
As previously disclosed, on June 18, 2017, Celanese Corporation, a Delaware corporation (the “Company”), through its subsidiaries, and certain affiliates of The Blackstone Group L.P. (“Blackstone”) entered into a Transaction Agreement to form a joint venture to combine the Company’s cellulose derivatives business and the Rhodia Acetow cellulose acetate business formerly operated by Solvay S.A. and acquired by Blackstone. On March 19, 2018, the Company and Blackstone entered into a Termination Agreement (the “Termination Agreement”), dated as of March 19, 2018, to which the parties mutually agreed to terminate the Transaction Agreement.
No break-up fees are payable under the terms of the Termination Agreement.
The foregoing description of the Termination Agreement does not purport to be complete and is qualified in its entirety by reference to the Termination Agreement, a copy of which is attached hereto as Exhibit 2.1 and the terms of which are incorporated herein by reference.
On March 19, 2018, the Company issued a press release relating to the Termination Agreement, a copy of which is filed as Exhibit 99.1 hereto and is incorporated herein by reference.
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Item 9.01 |
Financial Statements and Exhibits. |
(d)Exhibits
Celanese Corp ExhibitEX-2.1 2 a20183198kex21.htm EXHIBIT 2.1 Exhibit Exhibit 2.1 EXECUTION DRAFTTERMINATION AGREEMENTThis Termination Agreement (this “Agreement”),…To view the full exhibit click here
About Celanese Corporation (NYSE:CE)
Celanese Corporation (Celanese) is a technology and specialty materials company. The Company operates through four segments: Advanced Engineered Materials, Consumer Specialties, Industrial Specialties and Acetyl Intermediates. Its business involves processing chemical raw materials, such as methanol, carbon monoxide, ethylene and natural products, including wood pulp, into chemicals, thermoplastic polymers and other chemical-based products. It engineers and manufactures a range of products, which serves a range of end-use applications, including paints and coatings, textiles, automotive applications, consumer and medical applications, performance industrial applications, filtration applications, paper and packaging, chemical additives, construction, consumer and industrial adhesives, and food and beverage applications. The Company operates in North America, Europe and Asia and consists of approximately 20 global production facilities.
