Albemarle Corporation announced on Monday, October 27, 2025, that it has entered into a definitive agreement to sell a controlling stake in Ketjen Corporation’s refining catalyst solutions business to KPS Capital Partners, LP. Under the deal, KPS will own approximately 51% of Ketjen and will hold a majority of the board of directors, giving it operational control, while Albemarle will retain a 49% stake in the company.
The transaction also includes a separate sale of Albemarle’s 50% interest in the Eurecat joint venture to Axens SA, and Albemarle will keep 100% ownership of Ketjen’s Performance Catalyst Solutions (PCS) business, including the PCS plant in Pasadena, Texas. Albemarle expects to receive total pre‑tax proceeds of roughly $660 million from the combined transactions, which it plans to use for debt reduction and other general corporate purposes.
Completion of both transactions is expected in the first half of 2026 and is subject to customary closing conditions and regulatory approvals. The sale represents a strategic shift for Albemarle, allowing the company to focus on its core lithium and bromine businesses while maintaining a minority interest in Ketjen’s refining catalyst solutions unit.
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