Total To Sell Atotech To Carlyle In $3.2 Bln Deal

(RTTNews) - Total SA (TTA.TO, TOT) Friday announced the sale of specialty chemicals' affiliate Atotech to the Carlyle Group for $3.2 billion. Atotech is a manufacturer of high technology plating solutions.

Patrick Pouyanné, chairman & CEO of Total said this transaction is part of Total's portfolio management strategy, which aims to align the Group's asset base with its business ambition. It also forms part of the $10 billion divestment program over 2015-2017 announced by the Group.

Carlyle is a global alternative asset manager with presence in Asia, Europe and the United States. Equity for the transaction will come from Carlyle Europe Partners IV, a 3.75 billion euros buyout fund, and Carlyle Partners VI, a $13 billion buyout fund.