Kuo Exits Carbon Black JV

Kuo Exits Carbon Black JV

Mexico M&A

Mexican Conglomerate Grupo Kuo has agreed to sell its 60% share in its Negro de Humo (Nhumo) joint venture to partner Cabot International, it says. Cabot, which has held about 40% of the JV since 1990, adds the 60% equity for $105m, with $80m payable on the deal’s close, Cabot says. At the closing, 100% of the stock will be changed over to Cabot shares, and Kuo will receive $25m through the redemption of preferred shares that have 6.0% annual dividend. The deal is slated to close by fall 2013, p

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