There has already been a wave of corporate carve-out divestitures announced and completed in 2019. On 14 October, France-based Arkema announced the sale of its Functional Polyolefins business to SK Global Chemical for €335m in a deal expected to close in the second quarter of 2020. In August 2019, US-based Huntsman agreed to sell its chemical intermediates business to Thailand-based Indorama for $2.1bn in a deal expected to close by the end of the year.