Albemarle to sell controlling Ketjen stake to KPS, takes $181.5 million goodwill charge
Albemarle agreed to sell a controlling stake in Ketjen's refining catalyst business to KPS Capital Partners and to sell its 50% stake in the Eurecat joint venture to Axens SA. The company expects total pre-tax cash proceeds of about $660 million, and it will record a non-cash goodwill impairment charge of $181.5 million in the third quarter of 2025. Both transactions are expected to close in the first half of 2026, subject to regulatory approvals.
Key points
- Albemarle expects to receive an estimated $536 million in cash from the KPS transaction and about $660 million in total pre-tax proceeds across both deals
- Non-cash goodwill impairment charge of $181.5 million in Q3 2025, covering the full goodwill of the Refining Solutions reporting unit
- Albemarle will keep an approximately 49% stake in Ketjen and retain the Performance Catalyst Solutions business, including the Pasadena, Texas plant
- Both transactions are expected to close in the first half of 2026; either party may terminate if not closed by April 30, 2026
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:12 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 27, 2025.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.