July 19, 2012 / 11:13 AM / 5 years ago

Georgia Gulf to buy PPG's commodity chemicals business

1 Min Read

July 19 (Reuters) - PPG Industries Inc said it will spin off its commodity chemicals business and then merge it with chemical company Georgia Gulf in a deal valued at about $2 billion.

As per the deal, Georgia Gulf will pay PPG $900 million in cash and assume about $95 million of debt. The company's shareholders will also get about $1 billion in Georgia Gulf shares.

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