Brief: Avient signs agreement to divest distribution business to H.I.G. Capital for $950 Million

Avient

12/08/2022 11:46

Aug 12 (Reuters) - Avient Corp  AVNT.N :
    * PRESS RELEASE - AVIENT SIGNS AGREEMENT TO DIVEST
DISTRIBUTION
BUSINESS TO H.I.G. CAPITAL FOR $950 MILLION
    * AVIENT CORP - NOTED THAT AFTER-TAX PROCEEDS OF ABOUT $750
MILLION FROM SALE WILL BE USED TO PAY DOWN NEAR-TERM MATURING
DEBT
    * AVIENT CORP - EXPECTS DISTRIBUTION BUSINESS WILL BE
CLASSIFIED
AS "HELD FOR SALE" AND REPORTED AS A DISCONTINUED OPERATION IN
FUTURE FILINGS

Source text for Eikon:  ID:nPn7BpH6na 
Further company coverage:  AVNT.N