Anchor: Calumet Completes Sale of Drilling Fluids Subsidiary

Indianapolis-based Calumet Specialty Products Partners LP (Nasdaq: CLMT) has announced the sale of its subsidiary, Anchor Drilling Fluids USA, to Houston-based Q'Max America. Calumet will receive approximately $84 million as a result of the deal. The company says the value of the sale includes $50 million in cash, $15 million to be paid over the next two years for net working capital, and 10 percent equity ownership of Q'Max's parent, Fluid Holding Corp.