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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 +0.33% 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 -0.87% has gained 4.1%.

/zigman2/quotes/203519556/composite
US : U.S.: NYSE
$ 15.36
+0.05 +0.33%
Volume: 312,806
May 11, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$2.10 billion
Rev. per Employee
$486,967
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/zigman2/quotes/210599714/realtime
US : S&P US
4,152.10
-36.33 -0.87%
Volume: 2.44B
May 11, 2021 5:24p
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