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

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%.

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PQ Group Holdings Inc.

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

/zigman2/quotes/210599714/realtime

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S&P 500 Index

US : S&P US

4,134.98

-38.44 -0.92%

Volume: 2.39B

April 22, 2021 5:32p