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March 1, 2021, 8:58 a.m. EST

PQ Group's stock set to rally after $1.1 billion deal to sell its performance chemicals business

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By Tomi Kilgore

Shares of PQ Group Holdings Inc. /zigman2/quotes/203519556/composite PQG -2.11% were indicated up more than 7% in premarket trading Monday, after the specialty materials and chemicals company announced an agreement to sell its performance chemicals business for $1.1 billion to private investors Cerberus Capital Management L.P. and Koch Minerals & Trading LLC. PQ said its performance chemicals business produced sodium silicates, specialty silicas and zeolites. Cerberus and Koch said they formed a partnership to buy the business. The deal is expected to close this year. PQ's stock has rallied 17.5% over the past three months, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.92% has gained 4.1%.

/zigman2/quotes/203519556/composite
US : U.S.: NYSE
$ 16.24
-0.35 -2.11%
Volume: 61,847
April 22, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$2.27 billion
Rev. per Employee
$486,967
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/zigman2/quotes/210599714/realtime
US : S&P US
4,134.98
-38.44 -0.92%
Volume: 2.39B
April 22, 2021 5:32p
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