08:17 AM EDT, 10/27/2025 (MT Newswires) -- Albemarle (ALB) said Monday it agreed to sell a 51% stake in Ketjen's refining catalyst business to KPS Capital Partners and its 50% interest in the Eurecat joint venture to Axens, expecting about $660 million in proceeds.

On closing, KPS will own 51% and control Ketjen while Albemarle retains 49% and keeps the Performance Catalyst Solutions unit, including the Pasadena, Texas plant, the company said.

Albemarle plans to use proceeds for debt reduction and general corporate purposes, it said.

Both transactions are slated to close in H1 2026 pending regulatory approvals and customary conditions, Albemarle said.