3rd Jul 2026 12:33
(Alliance News) - Johnson Matthey PLC on Friday said it expects to complete the sale of its Catalyst Technologies business to Honeywell International Inc by the end of August after receiving the final regulatory approval for the deal.
The London-based speciality chemicals maker said the State Administration for Market Regulation in China has granted clearance for the transaction, meaning all conditions for the disposal have now been satisfied.
Johnson Matthey said it is working with Charlotte, North Carolina-based industrial conglomerate Honeywell to proceed to completion, which is expected no later than the end of August 2026, as previously announced.
Shares in Johnson Matthey rose 3.0% to 1,976.00 pence each in London on Friday, while Honeywell closed up 0.5% at USD231.02 in New York on Thursday.
A GBP1.80 billion deal was struck between the two firms in May 2025, but the price tag was slashed in February this year to just GBP1.33 billion.
This reflected Catalyst Technologies' performance in the 2025-26 financial year, including deferred sustainable solutions licensing projects and lower profitability in catalyst supply.
Johnson Matthey has pledged to return around GBP1.0 billion of sale proceeds to shareholders following completion. This will comprise GBP800 million through a special dividend with share consolidation and GBP200 million via an on-market share buyback programme.
By Jeremy Cutler, Alliance News reporter
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