Diversified chemical company FMC Corp said on Thursday it has tapped Bank of America Corp and Goldman Sachs Group Inc to help with the sale of its alkali chemicals unit, which sources said could fetch around $1.5 billion. The Philadelphia, Pennsylvania-based chemical maker announced its intention to sell the alkali chemicals business on Sept. 8, when it unveiled a deal to acquire Cheminova A/S, a wholly owned subsidiary of Auriga Industries A/S for $1.8 billion.An FMC representative on Thursday confirmed the bank mandates following a Reuters enquiry. He failed to comment on the unit's valuation, which was provided by sources close to the deal who spoke on condition of anonymity. Goldman Sachs and Bank of America declined to comment.The alkali chemicals division is a global producer of natural soda ash and related products used in the glass, chemical processing and detergent industries.In March, FMC said it would split itself into two companies in a bid to separate its stable and growing agriculture, health and nutrition businesses from its cyclical minerals division.
Bank of America Corporation (Bank of America) is a bank holding company, and a financial holding company. Shares of BAC fell by 0.35% or $-0.06/share to $17.00. In the past year, the shares have traded as low as $14.37 and as high as $18.03. On average, 82391000 shares of BAC exchange hands on a given day and today's volume is recorded at 49591428.
FMC Corporation (FMC) is a diversified chemical company. Shares of FMC fell by 0.71% or $-0.4/share to $55.97. In the past year, the shares have traded as low as $51.04 and as high as $83.94. On average, 1524820 shares of FMC exchange hands on a given day and today's volume is recorded at 1488706.
The Goldman Sachs Group, Inc. (Goldman Sachs), is a global investment banking, securities and investment management firm that provides a range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Shares of GS traded higher by 0.3% or $0.56/share to $189.75. In the past year, the shares have traded as low as $151.65 and as high as $192.68. On average, 2777940 shares of GS exchange hands on a given day and today's volume is recorded at 2849995.
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