The Chemours Company Agrees To Sell Glycolic Acid Business To Iron Path Capital-Backed PureTech Scientific Inc. For $137M
Portfolio Pulse from Benzinga Newsdesk
The Chemours Company has agreed to sell its glycolic acid business to Iron Path Capital-backed PureTech Scientific Inc. for $137 million.
June 01, 2023 | 8:33 pm
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Chemours Company (CC) sells its glycolic acid business to PureTech Scientific for $137 million, potentially impacting its stock price.
The sale of Chemours' glycolic acid business to PureTech Scientific for $137 million could have a positive impact on the company's stock price. The deal may be seen as a strategic move to focus on core businesses and generate cash from non-core assets. This could lead to a positive market reaction and an increase in the stock price in the short term.
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