June 6, 2018 / 6:45 PM / 2 years ago

Platform Specialty in talks to sell agrochemicals unit to Wilmcote: WSJ

(Reuters) - Platform Specialty Products Corp PAH.N is in advanced talks to sell its agrochemicals business to London-based Wilmcote Holdings Plc (WCH.L) for about $3 billion, the Wall Street Journal reported on Wednesday.

If the deal proceeds, the WSJ said, it would offer Platform a way to achieve its goal of splitting its two divisions into separate companies, each with a defined focus and improved balance sheet, as it aims to boost an underperforming stock.

Assuming a deal is reached, the transaction could be announced this month, the newspaper said, citing sources.

Platform and Wilmcote were not immediately available for comment.

A deal with Wilmcote would be worth about $4 billion, including debt, according to the WSJ.

Reporting by Shalini Nagarajan in Bengaluru; Editing by Mark Potter

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