November 27, 2019 / 6:22 PM / 11 days ago

Imerys considers sale of North American talc business: Bloomberg

(Reuters) - French group Imerys SA (IMTP.PA) is exploring options for its North America talc unit, which filed for bankruptcy after being drawn into cancer lawsuits connected to Johnson & Johnson’s (JNJ.N) baby powder, Bloomberg reported on Wednesday, citing people with knowledge of the matter.

The company is considering strategic alternatives including a sale of the business, Bloomberg reported, adding that Imerys plans to work with advisers at PJT Partners Inc, though a formal mandate will require court approval.(bloom.bg/2OQocV6)

Imerys did not immediately respond to a Reuters request for comment.

Imerys Talc America filed for Chapter 11 bankruptcy in February, saying it lacked the financial clout to defend against nearly 15,000 lawsuits over its talc mineral product, which is also used in cosmetics.

Imerys and J&J have repeatedly denied the allegations about talc, saying numerous studies and tests by regulators worldwide have shown their talc to be safe.

Reporting by Manas Mishra in Bengaluru; Editing by Anil D'Silva

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