Hexion Inc. Announces Agreement for Sale of Phenolic Specialty Resins, Hexamine and European-based Forest Products Resins Businesses to Black Diamond and Investindustrial

COLUMBUS, Ohio–(BUSINESS WIRE)–Hexion Inc. (“Hexion” or the “Company”) today announced that it has entered into a definitive agreement to sell its Phenolic Specialty Resin, Hexamine and European-based Forest Products Resins businesses for approximately $425 million to Black Diamond and Investindustrial. The consideration consists of $335 million in cash and certain assumed liabilities with the remainder in future proceeds based on the performance of the business.

Together, these businesses posted sales of approximately $530 million for the last twelve months ended June 30, 2020. The transaction includes approximately 900 associates and 11 manufacturing facilities globally where phenolic specialty resins and engineered thermoset molding compounds are produced for a wide range of end markets including building and construction, industrial, automotive, electronics, agriculture and consumer.

The Company expects to use the sale proceeds to invest in its business and further reduce its debt. The transaction is intended to close in the

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Portofino Receives Cash, Shares for Sale of HMW Lithium Interest; Amends Yergo Agreement

Vancouver, British Columbia--(Newsfile Corp. - September 24, 2020) - PORTOFINO
RESOURCES INC. (TSXV: POR)  (FSE: POTA) ("Portofino" or the "Company") is
pleased to report that it has now received full consideration, for the sale
and assignment of Portofino's right to earn a 100% interest in the Del Condor
and Pucara lithium brine salar properties ("HMW Lithium Project") in
Argentina. The consideration totaled C$100,000 in cash and 650,000 Galan
Lithium Limited ordinary shares, pursuant to its previously announced
transaction (NR February 25, 2020). GLN shares as traded on the Australian
Stock Exchange closed at a price of $0.14 AUD.

Yergo Lithium project, Argentina

Portofino also announces it has reached an agreement with the Yergo lithium
project Claim owner to amend the terms of its Option Agreement that enables
Portofino to earn 100% interest in the project. The original Agreement
required Portofino to make escalating payments totaling US$370,000 over a
48-month period 
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Preferred Apartment Communities Announces Agreement to Sell its Student Housing Portfolio to TPG Real Estate Partners

ATLANTA, Sept. 24, 2020 /PRNewswire/ — Preferred Apartment Communities, Inc. (NYSE: APTS) (the “Company”) announced today that it has entered into a Purchase and Sale Agreement to sell its student housing portfolio (the “Portfolio”) to TPG Real Estate Partners (“TREP”) for $478.7 million. The transaction is expected to close in the fourth quarter of 2020 and is subject to customary closing conditions. The Portfolio was marketed for sale by CBRE.

Preferred Apartment Communities
Preferred Apartment Communities

The Portfolio includes eight, high-quality student housing communities located in Arizona, Florida, Georgia, North Carolina, and Texas. The communities include more than 6,000 beds with a wide  range of indoor and outdoor amenities. The communities to be sold include:

  • NxNW, a 679-bed student housing community located in Tallahassee, Florida

  • Knightshade, an 894-bed student housing community located in Orlando, Florida

  • The Tradition, an 808-bed student housing community located in College Station,

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