Updated: JM sells Catalyst Technologies division to Honeywell in £1.8bn deal
Johnson Matthey (JM) has agreed to sell its Catalyst Technologies division, which includes hydrogen and sustainable fuel production assets, to Honeywell for £1.8bn ($2.4bn).
The British firm has faced growing investor pressure to simplify its operations and boost shareholder returns. By offloading one of its four core divisions, JM aims to sharpen its focus on its remaining business units, such as platinum group metal processing.
The company will retain approximately £200m ($268m) of the proceeds for general corporate purposes, while returning around £1.4bn ($1.88bn) to shareholders, equating to roughly £8 ($10.74) per share.
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