Albemarle Nets $660 Million From Asset Sales, Keeps Foot In Ketjen's Future

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Albemarle Corporation (NYSE:ALB), a supplier of materials used in mobility, energy, connectivity, and health applications, has entered into a definitive agreement to sell a controlling interest in Ketjen Corporation’s refining catalyst solutions business to KPS Capital Partners, LP.

KPS will acquire a 51% stake in Ketjen, gaining majority board representation and operational control, while Albemarle will retain a 49% ownership interest. The transaction is part of Albemarle’s plan to streamline its portfolio and strengthen financial flexibility.