Kronos Worldwide (KRO) has shared an announcement.
Kronos Worldwide, Inc. has fully acquired Louisiana Pigment Company, L.P. by purchasing the remaining 50% stake from Venator Investments Ltd. for $185 million, plus an additional potential earn-out payment of up to $15 million. The deal, effective July 16, 2024, was financed through debt and cash on hand, and will be reflected in Kronos’ financial reporting from the third quarter onwards. Additionally, Kronos amended its credit agreement, increasing its borrowing capacity and extending the maturity date, while incorporating LPC into the borrowing base to enhance financial flexibility.
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