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ICI may keep minority stake in disposals: FT

LONDON: Britain's Imperial Chemical Industries Plc is expected to keep a minority stake in businesses it is planning to sell to private U.S. company Huntsman, the Financial Times reported on Wednesday. The newspaper said the two companies were close to agreeing a deal under which Huntsman would buy parts of ICI's materials and industrial chemicals division, including its tioxide section, in a transaction valuing the businesses at around $2.8 billion.

The Financial Times quoted an unidentified person close to the talks as saying ICI was planning to take a minority stake in the Huntsman- controlled company which would own the assets being sold.

ICI said on Monday it was in talks with Huntsman and other companies over its disposal programme.

A spokesman told Reuters on Wednesday: "If we were to reach an agreement with anybody, we would then announce the agreement and the price. But until we reach an agreement or end talks we are not going to say anything."-Reuters