US-headquartered ExxonMobil Chemical Company has signed an agreement with Celanese for the sale of its global Santoprene business for US$1.15 billion. Sale includes two world—scale manufacturing sites in the US and UK.
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The transaction is expected to close in the fourth quarter of 2021, subject to regulatory, information and consultation processes, and third-party approvals. The ExxonMobil employees impacted by the sale are expected to transfer to positions at Celanese following change-in-control.