By Isaac Taylor
Prince International Corp. and Ferro Corp. will divest three facilities used to make porcelain enamel frit and glass enamel as part of a requirement from the U.S. Federal Trade Commission.
The FTC action follows plans by American Securities Partners VII, L.P., Prince's parent company, to acquire competitor Ferro for $2.1 billion.
Porcelain enamel frit is a glass-based product that is essential for heat-, scratch- and corrosion-resistant coatings for appliances.
Ferro's shareholders voted to approve its acquisition in September 2021 and the European Union Commission approved the acquisition in January of this year.
Prince is a subsidiary of private-equity firm American Securities Partners.
Write to Isaac Taylor at isaac.taylor@wsj.com
(END) Dow Jones Newswires
04-21-22 1008ET