Reginal Thomas
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Carlyle Group LP Is Selling Off The Pieces of PQ Corp.


Carlyle Group LP is planning to break up PQ Corp., a specialty chemical company, after all attempts to sell the company as a whole for $3 billion failed. The new plan to fully divest the firm through sale instead of an IPO, even though PQ Corp. filed for a proposed public offering with the U.S. Securities and Exchange Commission in February. Carlyle Group plans to separately sell  PQ Corp.’s industrial catalysts business, its performance chemicals and specialty glass material unit. The industrial catalysts unit has attracted interest from Umicore SA, BASF SE, W.R. Grace & Co and Johnson Matthey Plc.