Arkema Is Said to Start Sale of 1 Billion-Euro Plexiglass Unit

Arkema SA has kicked off the sale of its plexiglass business, which could fetch about 1 billion euros ($1.1 billion) for the French chemical producer, according to people familiar with the matter.

The company has sent potential bidders so-called teaser documents with an overview of the Altuglas International division, according to the people. The sale is attracting initial interest from private equity firms including Advent International, Rhone, SK Capital Partners and Triton Partners, the people said, asking not to be identified because the information is private.

Altuglas produces polymethyl methacrylate-based plastics, which are used in car parts like headlights ...