French chemicals company Arkema SA (AKE.FR) Tuesday said it plans to buy a package of assets from cross-town oil major and former parent company Total SA (TOT), for an enterprise value of EUR550 million.

In a separate statement, Total said selling the businesses shows its strategy of "refoucusing" its specialty chemicals activities.

The package of businesses has "growing" yearly sales of around EUR850 million, Arkema said.

"Fully in line with its strategy to bolster its specialty product activities, this project would establish Arkema as a leader in the global coatings resins market," the company said.

-Adam Mitchell, Dow Jones Newswires, +33 1 40171756; .mitchell@dowjones.com
Arkema (PK) (USOTC:ARKAY)
Historical Stock Chart
From Dec 2024 to Jan 2025 Click Here for more Arkema (PK) Charts.
Arkema (PK) (USOTC:ARKAY)
Historical Stock Chart
From Jan 2024 to Jan 2025 Click Here for more Arkema (PK) Charts.