Minerals Technologies’ BMI unit competes talc asset sales to Riverspan for $32M

Minerals Technologies announced that its subsidiary, Barretts Minerals BMI, has completed the sale of all the talc assets to Riverspan Partners for $32M. The go-forward company will conduct business under the Barretts Minerals brand. The United States Bankruptcy Court for the Southern District of Texas approved the sale, which includes an agreement to assume certain Assumed Liabilities, on March 25, as part of the ongoing Chapter 11 process of Barretts Minerals and Barretts Ventures Texas together, BMI . Proceeds from the sale will be used to fund BMI’s ongoing Chapter 11 case including the repayment of its debtor-in-possession funding and the anticipated creation of a section 524 g trust.