Arkema proposes divestment of Cerexagri to United Phosphorus Limited


Arkema presented to its Central Works Council a project to sell Cerexagri, its agrochemicals business unit, to United Phosphorus Limited (UPL), in line with its selective portfolio management.

Arkema's Agrochemicals business unit Cerexagri specializes in the formulation and production of plant protection products, essentially fungicides and treatment products for fruits and vegetables. With 630 people, Cerexagri operates on a worldwide basis, achieving annual sales in the order of EUR200 million.

The sale price of Cerexagri is expected to be EUR111 million, which corresponds to an EBITDA multiple exceeding the multiple at which Arkema is currently traded. This sale would positively impact Arkema's results.

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