NGVT Agrees to Divest North Charleston CTO Refinery to Mainstream Pine

Key Takeaways Ingevity agreed to divest CTO refinery assets and most of its Industrial Specialties line.Mainstream will pay $110M in cash plus a potential $0-$19M contingent payment.Deal aims to cut volatility, boost margins, and enhance flexibility in capital allocation.Ingevity Corporation (NGVT) has agreed to divest its North Charleston crude tall oil (CTO) refinery assets and the majority of its Performance Chemicals Industrial Specialties product line. A definitive agreement has been entered into with ...