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Profit on Disposal of Subsidiary
 9 Months Ended
Sep. 30, 2015
Discontinued Operations and Disposal Groups [Abstract]  
Profit on Disposal of Subsidiary

NOTE 3 – PROFIT ON DISPOSAL OF SUBSIDIARY

On July 6, 2015 the Company divested its 100% equity interest in its Aroma Chemicals business, Innospec Widnes Limited, for cash consideration of $41.5 million after transaction costs. The total consideration will be subject to a potential net working capital adjustment, yet to be agreed with the purchaser.

 

(in millions)

       

Total consideration

    $ 41.5   

Net assets disposed

      (33.9 ) 

Other effects

      (6.0 ) 
  

 

 

  

Net gain

    $ 1.6   
  

 

 

  

Other effects include foreign exchange losses transferred to the income statement

During the nine month period ended September 30, 2015 the Aroma Chemicals business generated pre-tax profits amounting to $2.6 million (2014: $6.6 million).