Trinseo PLC (NYSE:TSE) announced it has decided to pause the sale of its styrenics business. In November 2021 the company announced that it had begun work to explore the divestiture of the business and subsequently launched a formal sales process in the first quarter of 2022. The scope of the potential divestiture was expected to include the Feedstocks and Polystyrene reporting segments as well as the company's 50% ownership of Americas Styrenics.

The process generated broad and significant interest from both strategic and financial parties. However, the deterioration of financing markets and the economic uncertainty created by the war in Ukraine, particularly in European energy markets, has impeded the company's ability to obtain full value for the business. The delay of the styrenics divestiture does not change the company's transformation strategy.

The company intends to reevaluate a potential sale of the Business when macroeconomic conditions improve.