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Acquisition of European Differentiated Surfactants business
12 Months Ended
Dec. 31, 2017
Business Combinations [Abstract]  
Acquisition of European Differentiated Surfactants business

Note 4.    Acquisition of European Differentiated Surfactants business

 

On December 30, 2016, the Company acquired the European Differentiated Surfactants business (“Huntsman”) from Huntsman Investments (Netherlands) B.V.. We purchased the business for a total consideration of $200.2 million. We acquired the business in order to continue our strategy of building our presence in the Personal Care and Home Care markets which form part of our Performance Chemicals segment.

 

During the year we have reviewed the fair values of assets acquired and liabilities assumed based on information becoming available after our previous filing, resulting in a $23.1 million increase in assets acquired and a corresponding decrease in goodwill in relation to the recognition of customer relationships offset by an increase in deferred taxation liabilities. The final working capital adjustments of $2.6 million were agreed in the third quarter of 2017.

 

Huntsman, and the associated goodwill, are included within our Performance Chemicals segment for management and reporting purposes. There is currently no goodwill amortizable for tax purposes.