Umicore Sells its Zinc Chemicals Business to OpenGate Capital for €142.4 Million

Cleary Gottlieb is representing Umicore in the sale of its Umicore Zinc Chemicals business (UZC). Umicore announced on June 1, 2016, that it had reached an agreement to sell its UZC business unit to OpenGate Capital, a U.S.-based private equity firm. The transaction values the UZC business at an enterprise value of €142.4 million and is expected to close during the second half of 2016, subject to regulatory approvals.

Umicore is a global materials technology and recycling group listed on Euronext Brussels, with over €10 billion in turnover and a market capitalization of €5.2 billion.

Umicore Zinc Chemicals is a global leader in the production of zinc chemicals, with industrial operations in Belgium, the Netherlands, Norway, China and Malaysia.