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-0.000523012552301151 0.000523012552301337 0.00104602510460249 0.00836820083682009 0.00784518828451894 -0.00261506276150631 -0.0036610878661088 -0.00523012552301244
Stock impact report

Ecovyst Streamlines Focus As Technip Energies Snaps Up Catalysts Business [Yahoo! Finance]

Ecovyst Inc. (ECVT) 
Company Research Source: Yahoo! Finance
to Technip Energies (OTC: THNPY ) in a $556 million cash deal, reshaping both companies' strategic focus. The sale values the business at roughly 10 times its 2024 adjusted EBITDA. Closing is targeted for early 2026. Ecovyst expects net proceeds of about $530 million after taxes and expenses. Kurt J. Bitting , the company's chief executive, said the decision followed a strategic review that showed the market undervalued the unit. Proceeds will be used to cut debt and return capital to investors. Also Read: DuPont Divests Aramids Business In $1.8 Billion Deal To Sharpen Portfolio Bitting said the divestiture will reduce the company's net debt leverage ratio to below 1.5x and provide flexibility to pursue growth opportunities. Ecovyst also plans to continue its $200 million share buyback program, signaling confidence in its core sulfuric acid and regeneration businesses. For Technip Energies, the acquisition accelerates its expansion into catalysts and advanced materials, crit Show less Read more
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