Sources told Reuters that Chemtrade Logistics Inc was already in advanced discussions to acquire General Chemical Corp. Two people familiar with the deal said the transaction could be worth USD 1 billion. Private equity company American Securities put General Chemical up for sale this summer. One of the sources said American Securities and Chemtrade would be finalizing a deal in the next few weeks.
The people however said that talks were still going on and the outcome could still change. They spoke on the condition of anonymity since the discussions were private. The sources also said that American Securities had talked with other companies interested to acquire General Chemical. This included another private equity firm Apollo Global Management.
General Chemical is based in New Jersey. It is engaged in the business of making water treatment products as well as ingredients for prescription drugs. The company was made private by American Securities in a USD 673 million deal 2009.
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