Venator Materials plc (Venator) has announced that it has completed the sale of its 50% interest in theLouisiana Pigment Company (LPC) titanium dioxide manufacturing joint venture facility to its operating partner Kronos Worldwide, Inc. The Venator group received US$185 million in cash at completion (subject to working capital adjustments) and expects to receive an earnout payment of up to US$15 million.
Latham & Watkins LLP represented Venator in the transaction with a cross-border corporate deal team led by London partner Edward Barnett and New York partner Ian Nussbaum, with associates Kyle Adams, Jesse Lake, and Sam Shropshire. Advice was also provided on tax matters by New York partner Eric Kamerman.
