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

April 21, 2022 10:08 ET (14:08 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
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