Synthomer slips as company plans to divest Czech Acrylate Monomers unit to Mutares
Today 08:55
BUZZ-Synthomer slips as company plans to divest Czech Acrylate Monomers unit to Mutares ** Shares of specialty chemicals supplier Synthomer SYNTS.L down 3.7% at 106.6 p
** Company to divest its Czech Acrylate Monomers unit to Mutares MUXG.DE, the group's only remaining upstream business, for consideration of up to €12 million ($13.73 million) over three years
** "Some investors may be concerned that the company was unable to secure any upfront proceeds for the acrylates asset, meaning that the divestment does not meaningfully contribute to delevering," Berenberg analyst Sebastian Bray says
** YTD, stock has risen 80%
($1 = 0.8737 euros)
(Reporting by Tuhina in Bengaluru)