UK Venator puts bid to sell coloured pigment business on hold

HOUSTON (ICIS)–Venator Materials is pausing its efforts to sell its coloured pigments business because of disruptions caused by the coronavirus, the CEO of the UK company said on Tuesday.

It still wants to sell the business, said. CEO Simon Turner. He made his comments during an earnings conference call.

Turner did not say if the disruptions caused interest in the business to decline or if they made it more difficult for prospective buyers to go through due diligence and other parts of the sales process.

Venator has been trying to sell its coloured pigments business since at least the end of 2019.

The products included in the business include iron oxides, ultramarines, specialty inorganic chemicals and driers.

Venator also makes titanium dioxide (TiO2).

Venator is not alone in having trouble trying to sell a business.

DuPont had said that the coronavirus has delayed its attempts to sell its noncore assets. It now takes more time to conduct due diligence, visit sites and conduct environmental studies.

DuPont is still carrying out the sales process, and it has attracted interest from every one of its noncore assets.

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