(RTTNews) - Cabot Corp. (CBT) has agreed to sell its Purification Solutions business to One Equity Partners, a middle market private equity firm, in a deal valued at $111 million. The company expects the transaction will close during second quarter of 2022. Net cash proceeds from the transaction is projected to be approximately $80 million.
Cabot Corp. expects to recognize a pre-tax impairment charge in the range of $155 million to $165 million in the first quarter of 2022 in relation to the sale. The company noted that its full year 2022 adjusted earnings per share outlook of $5.20-$5.60 remains unchanged.
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