Cookson Group PLC (CKSN.LN), a materials science company, Thursday said it has entered into an agreement to sell its U.S. Precious Metals business to Richline Group Inc., a unit of Berkshire Hathaway Inc (BRKA).

MAIN FACTS:

-U.S. Precious Metals business is a part of the company's Precious Metals division.

-Net cash consideration is subject to closing balance sheet adjustments but is expected to be sufficient for Cookson's exit from the business to be cash neutral, including taking into account the restructuring and other costs incurred in preparing the business for sale.

-For the year ended Dec. 31, 2011, the U.S. Precious Metals business had revenue of $232 million, or GBP144 million, and net sales of $78 million, or GBP49 million.

-Division's profitable European operations are unaffected by the transaction.

-Shares of Cookson at 0840 GMT up 17 pence, or 2.7%, at 659 pence.

-By Tapan Panchal, Dow Jones Newswires. Tel +44(0)207-842 9448, tapan.panchal@dowjones.com

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