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3. BUSINESS COMBINATIONS AND DISPOSITIONS

SALE OF EUROPEAN SURFACTANTS MANUFACTURING FACILITIES

ÌýÌýÌýÌýÌýÌýÌýÌýOn DecemberÌý30, 2016, our Performance Products segment completed the sale of its European surfactants business to InnospecÌýInc. for $199Ìýmillion in cash plus our retention of trade receivables and payables for an enterprise value of $225Ìýmillion. Under the terms of the transaction, Innospec acquired our manufacturing facilities located in Saint-Mihiel, France; Castiglione delle Stiviere, Italy; and Barcelona, Spain. The purchase price is subject to the finalization of working capital adjustments. We remain committed to our global surfactants business, including in the U.S. and Australia, where our differentiated surfactants businesses are backward integrated into essential feedstocks. Upon closing the transaction, we entered into supply and long-term tolling arrangements with Innospec in order to continue marketing certain core products strategic to our global agrochemicals, lubes and certain other businesses. In connection with this sale, we recognized a pre-tax gain in the fourth quarter of 2016 of $98Ìýmillion which was reflected in other operating income, net on the accompanying consolidated statements of operations.

ROCKWOOD ACQUISITION

ÌýÌýÌýÌýÌýÌýÌýÌýOn OctoberÌý1, 2014, we completed the Rockwood Acquisition. We paid $1.02Ìýbillion in cash and assumed certain unfunded pension liabilities in connection with the Rockwood Acquisition. The acquisition was financed using a bank term loan. The majority of the acquired businesses have been integrated into our Pigments and Additives segment. Transaction costs charged to expense related to this acquisition were approximately nil, nil and $24Ìýmillion for the years ended DecemberÌý31, 2016, 2015 and 2014, respectively, and were recorded in selling, general and administrative expenses in our consolidated statements of operations.

ÌýÌýÌýÌýÌýÌýÌýÌýThe following businesses were acquired from Rockwood:

ÌýÌýÌýÌýÌýÌýÌýÌýIn connection with securing certain regulatory approvals required to complete the Rockwood Acquisition, we sold our TiO2 TR52 product line used in printing inks to Henan in December 2014. The sale did not include any manufacturing assets but does include an agreement to supply TR52 product to Henan during a transitional period.

ÌýÌýÌýÌýÌýÌýÌýÌýWe have accounted for the Rockwood Acquisition using the acquisition method. As such, we analyzed the fair value of tangible and intangible assets acquired and liabilities assumed. The allocation of acquisition cost to the assets acquired and liabilities assumed is summarized as follows (dollars in millions):

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ÌýÌýÌýÌýÌýÌýÌýÌýDuring the second quarter of 2015, we received $18Ìýmillion related to the settlement of certain purchase price adjustments. As a result of the finalization of the valuation of the assets and liabilities, reallocations were made in certain property, plant and equipment, deferred tax, accrued liability and other long-term liability balances. None of the fair value of this acquisition was allocated to goodwill. Intangible assets acquired consist primarily of developed technology, trademarks and customer relationships, all of which are being amortized over nine years. The noncontrolling interest primarily relates to Viance, a 50%-owned joint venture with Dow Chemical acquired as part of the Rockwood Acquisition. The noncontrolling interest was valued at 50% of the fair value of the net assets of Viance as of OctoberÌý1, 2014, as dictated by the ownership interest percentages. If the Rockwood Acquisition were to have occurred on JanuaryÌý1, 2014, the following estimated pro forma revenues and net income attributable to ÀÖÌìÌÃfun88(ÖйúÇø)¹Ù·½ÍøÕ¾ Corporation and ÀÖÌìÌÃfun88(ÖйúÇø)¹Ù·½ÍøÕ¾ International would have been reported (dollars inÌýmillions, except per share amounts):

ÀÖÌìÌÃfun88(ÖйúÇø)¹Ù·½ÍøÕ¾ Corporation

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ÀÖÌìÌÃfun88(ÖйúÇø)¹Ù·½ÍøÕ¾ International

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