Total (TOTF.PA) has agreed to sell its specialty chemicals business Atotech to private equity firm Carlyle Group for $3.2 billion (2.57 billion pounds), which is part of a $10 billion asset sale program the French oil firm hopes to complete by the end of 2017.
Total said the sale price was equivalent to 11.9 times 2015 earnings before interest, tax, depreciation and amortization for the business which specializes in metallization, panel plating and corrosion protection.
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