Stepan to sell Lake Providence, LA assets

Stepan (SCL) has entered into an agreement to sell its manufacturing assets located in Lake Providence, LA to an undisclosed buyer. This transaction follows Stepan’s most recent divestiture of its plant in the Philippines. The transaction is subject to normal closing conditions. The parties are targeting to close the transaction before year end, subject to the satisfaction of customary closing conditions, including completion of ongoing due diligence. Terms of the transaction were not disclosed.