UK's Elementis climbs on sale of talc business to IMI Fabi

Elementis

27/05/2025 08:35

** Shares of specialty chemicals firm Elementis ELM.L up as much as 14.36% to 151.8p

** Stock top gainer on FTSE mid-cap .FTMC index, which is up 0.8%

** Co says its has simultaneously signed & completed sale of its talc business to a global talc manufacturer IMI Fabi S.p.A for enterprise value of $121 mln

** The deal follows strategic review of the business last year, to evaluate whether its full potential could best be delivered as part of co or via a divestment

** ELM intends to return $50 mln to shareholders by way of a share buyback programme which is expected to commence as soon as practicable

** Co also keeps outlook for this financial year unchanged

** As of last close, stock down ~10.47% YTD

 (Reporting by Ankita Bora in Bengaluru)

 ((Ankita.Bora@thomsonreuters.com))